DOGE price fell as low as $0.1430 on February 14th but managed to find support and bounce back. With that, Dogecoin started a new uptrend and climbed all the way up to $0.1520 before having a price correction. The price came down to $0.1460 but yet again had some good support at that level. Today, DOGE price made another attempt to surpass $0.15 but failed and as of now it stands around $0.1480.
DOGE Price Action Analysis
Taking a look at the 4-hour chart, we see DOGE has been on a decline for the past two days and on a persistent downward trendline.
Despite that, the price has had successful support from an upward trendline and has managed to continue using that. Yesterday, Dogecoin hit the $0.15 on the downtrend and turned back down to $0.1460 with a correction.
Currently, the $0.1480 to $0.1490 near the SMA100 and 50% Fibonacci retracement level is the first resistance level for DOGE price. In case of a successful breakthrough, the next resistance levels will be $0.15 and $0.1520. The key resistance level however, is the $0.1550.
On the other hand, if DOGE fails to surpass $0.1480, the price correction will continue. For this case, the $0.1460 is the key support level for the price. Upon losing this level, DOGE price could fall as low as $0.1440 and $0.14.
The Technical Indicators
MACD indicator: at the time of writing this article the 1-hour MACD for Dogecoin is on a downward momentum.
RSI: the relative strength index is approximately 45.
Resistance levels: the first one will be at $0.1490. Following that, we can expect $0.15 and then $0.1520 and finally $0.1550 to be resistance levels on the way.
Support levels: first and foremost, the $0.1460 will support the price. After that, the $0.1440 will be the next one. And then the $0.14 will support the price next.
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