š„#Dogecoinā¬ā© Could Restart Rally If It Holds This Support
#Memecoins #BullorBear #elonMusk
š„Dogecoin is reversing gains from $0.230 versus the USD. To rise again, DOGE must remain above $0.1750.
š„DOGE struggled to hold above $0.225 and reversed US dollar gains.
š„The price is above $0.1750 and the 100 SMA.
š„The DOGE/USD 4-hour chart broke below a positive trend line with support at $0.2040.
š„Unless it closes below $0.1750, the price might rise again.
š„Dogecoin Nears Key Support
š„Dogecoin tried to get beyond $0.230 after a steady rise. DOGE struggled over $0.2250. Like Bitcoin and Ethereum, the price corrected from $0.2294.
š„Dropping below $0.2050 and $0.200 support levels. The price fell below the 23.6% Fib retracement level of the $0.1228 swing low to $0.2294 high.
š„Additionally, the DOGE/USD 4-hour chart broke below a crucial bullish trend line with support at $0.2040. However, Dogecoin remains above $0.1750 and the 100 SMA (4 hours).
š„The price faces upward resistance at $0.1950. Near $0.200 is the next significant resistance. A closing above $0.200 might push pricing above $0.2150. Around $0.2300 is the next significant resistance. More advances might push the price toward $0.2500.
š„More DOGE downsides?
š„If DOGE fails to get over $0.200, it may continue to fall. Initial negative support is $0.1820.
š„Next key support is approaching $0.1750, the 50% Fib retracement level of the upward run from $0.1228 swing low to $0.2294 high. If the price breaks $0.1750, it might fall lower. In this instance, the price may drop to $0.1480.
š„#DOGE/USDT MACD is leaning negative after 4 hours.
š„4-Hour RSI (Relative Strength Index): DOGE/USD is below 50.
š„Major Support Levels: $0.1820, $0.1750, $0.1480.
š„Major Resistance Levels: $0.2000, $0.2150, $0.2300.
