DOGE price started a new rally on February 18th from $0.1360 and peaked at $0.1460. Following that, the price reached the downward trendline and the SMA100 and had to back down. Subsequently, DOGE price lost the $0.14 support level and is currently trading around $0.1380.
DOGE Price Action Analysis
Taking a look at the 1-hour chart, we see Dogecoin is still riding on the downtrend and could not surpass this line yesterday at $0.1460. Today, the price fell as low as $0.1380.
Currently, the first resistance level for Dogecoin is at $0.1360. Surpassing this level would set DOGE price on a recovery attempt. In which case, the first resistance level is expected at $0.14 followed by $0.1420to $0.1430 zone. This zone is near the 50% to 61.8% Fibonacci retracement level. However, the big barrier still remains on the downtrend and the SMA100 which is a key resistance level for the price.
On the other hand, if DOGE price fails to surpass $0.14 and loses the $0.1360 support level, the bear run will likely continue. For this scenario, the $0.1350 and $0.13 are the next support levels for the price.
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 40.
Resistance levels: the first one will be at $0.14. Following that, we can expect $0.1430 and then $0.1440 and finally $0.1460 to be resistance levels on the way.
Support levels: first and foremost, the $0.1360 will support the price. After that, the $0.1350 will be the next one. And then the $0.13 will support the price next.
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