To combat the gravity of Dogecoin (Doge), can it escape potential free falls?

Dogecoin has begun a new decline below the $0.250 zone against the US dollar. Doge is currently integrated and could fall further below $0.2250.

• Doge Price has begun a new decline below the $0.2420 level.
• The price is below the $0.2320 level and a simple moving average of 100 hours.
• On the hourly chart of the Doge/USD pair (Kraken’s data source), there was a break under the key-rising channel with $0.2295 support.
• Prices could begin a new upward movement if they exceed the $0.2165 zone.

Dogecoin Price drops again

DogeCoin Price has been newly increased, surpassing the $0.240 resistance zone, including Bitcoin and Ethereum. Doge even spiked over $0.2420 before the bear appeared.

The high formed at $0.2430, and prices began to decline new. There was a move below the $0.240 and $0.2350 levels. The price fell below the 50% FIB retracement level of an upward movement from a swing low of $0.2163 to a swing low of $0.2430.

Plus, the Doge/USD pair hourly wage chart had a break under the main rising channels at $0.2295 support. DogeCoin Price is currently below the $0.2320 level and a simple moving average of 100 hours.

The Bulls currently protect the upward movement from $0.2163 Swing Low to $0.2430 with a 76.4% FIB retracement level. If there is a recovery wave, the immediate resistance of the benefit is close to the $0.2295 level. The Bulls’ first major resistance could be close to the $0.2320 level.

The next major resistance is close to the $0.2420 level. If the resistance exceeds $0.2420, the price may be sent towards a $0.250 resistance. Any further profit could potentially send the price to the $0.2650 level. The Bulls’ next major stop may be $0.2780.

Doge’s more loss?

If the Doge price does not rise above the $0.2320 level, it could continue to fall. The initial support for the downside is close to the $0.2220 level. The next major support is close to the $0.2165 level.

The main support is $0.2150. If there is a negative side break below the $0.2150 support, the price could drop even further. If stated, the price could drop to a level of $0.2050 or, in the short term, $0.2020.

Technical indicators

HOURLY MACD – Doge/USD’s MACD is gaining momentum in the bear zone.

Hourly RSI (Relative Strength Index) – DOGE/USD’s RSI is below 50 level.

Key support levels – $0.2165 and $0.2150.

Major resistance levels – $0.2320 and $0.2420.