Dogecoin Price Eyes Recovery

Dogecoin price started a fresh decline below the $0.2150 zone, like Bitcoin and Ethereum. DOGE dipped below the $0.2050 and $0.200 support levels.

Dogecoin price is struggling to stay afloat as it trades below the crucial $0.2150 zone. The bulls pushed the price above the 23.6% Fib retracement level of the downward move from the $0.2421 swing high to the $0.1826 low at $0.1950.

There was also a break above a connecting bearish trend line with resistance at $0.2000 on the hourly chart of the DOGE/USD pair.

Dogecoin price is now trading below the $0.2150 level and the 100-hourly simple moving average. It is also testing the 38.2% Fib retracement level of the downward move from the $0.2421 swing high to the $0.1826 low.

The bulls attempts to push the price above the $0.2150 level and the 100-hourly SMA failed. Moreover, there was a rejection on the bearish trend line.

Dogecoin price is currently consolidating losses. A low was formed at $0.1826 and the price is now testing the 38.2% Fib retracement level.

There was also a move above the $0.1950 level. The bulls pushed the price above the 23.6% Fib retracement level of the downward move from the $0.2421 swing high to the $0.1826 low.

There was also a break above a connecting bearish trend line with resistance at $0.2000 on the hourly chart of the DOGE/USD pair.

Dogecoin price is now trading below the $0.2150 level and the 100-hourly simple moving average. It is also testing the 38.2% Fib retracement level of the downward move from the $0.2421 swing high to the $0.1826 low.

Dogecoin price may face more sellers on the upside. Immediate resistance on the upside is near the $0.2050 level.

The first major resistance for the bulls could be near the $0.2120 level and the 50% Fib retracement level of the downward move from the $0.2421 swing high to the $0.1826 low. The next major resistance is near the $0.2195 level.

A close above the $0.2195 resistance might send the price toward the $0.2220 resistance. Any more gains might push the price toward the $0.2350 level. The next major stop for the bulls might be $0.2420.

On the downside, there is an immediate support at $0.1950. The main support on the downside is at $0.1820.

If there is a downside break below the $0.1820 support, the price could decline further. In the stated case, the price might decline toward the $0.1740 level or even $0.1650 in the near term.