DOGE price managed to touch $0.2830 on Monday but failed to stabilize and had to back down. Subsequently, the price came down as low as $0.2580. At that point, DOGE found good support and did not fall any further. DOGE price has been consolidating in the past 24 hours between $0.2580 and $0.2680. Currently, the price is around $0.2650.

Learn how to exchange your DogeCoin into PayPal on HiExchange.

DOGE Price Action Analysis

Taking a look at the 1-hour chart, we see DOGE stuck between a downtrend and an uptrend. Breaking each of them could determine the path that will follow.

As of now, the $0.2650 is the first resistance level for the price. Surpassing this level and stabilizing above it would pave the way to reach $0.27 and $0.28. The $0.29 and $0.30 are the next crucial resistance levels.

On the other hand, if DOGE fails to surpass the downtrend at $0.2650 and lose the $0.2630 support, there could be further price correction.

For the bearish scenario, the $0.26 to $0.2580 zone is the next support level. Further decline can bring the price closer to the $0.2550 and the SMA100. The $0.25, $0.2420 to $0.20 are also the next support levels for DOGE price.

The Technical Indicators

MACD indicator: at the time of writing this article the 1-hour MACD for Dogecoin is on a weak downward momentum and is regaining upward momentum.

RSI: the relative strength index is approximately 52.

Resistance levels: the first one will be $0.2650. Following that, we can expect $0.27 to $0.2750 zone and then $0.2840, $0.29 and $0.30 to be resistance levels on the way.

Support levels: first and foremost, the $0.2630 will support the price. After that, the $0.2580 will be the next one. And then the $0.2550 and finally $0.25 will support the price next.

HiExchange

HiExchange is a decentralized online platform to exchange your cryptocurrencies and e-currencies. We utilize an automated system to determine the best exchange rates at any moment. Furthermore, HiExchange does not require KYC or a sign-up process. Backed by 24/7 customer support, our great reviews on OkChanger and Trustpilot is a testament of our good will. We are on Bestchange and are always amongst the top exchanges.

To learn how to exchange your cryptocurrencies to PayPal you can read our instructional article.

For more instructional content, you can always visit HiExchange Blog