Yes

>>Dogecoin's value is declining once more, and investors are concerned as negative factors reappear.

Dogecoin's value is declining once more, and investors are concerned as negative factors reappear.

crypthub

1 day ago

Recent Price Decline

Dogecoin (DOGE) has experienced a fresh decline, falling below the $0.260 and $0.2550 levels. The price has even dropped below $0.2450, with a low forming near $0.2430. This trend demonstrates a continued bearish momentum for the cryptocurrency.

Consolidation and Potential Further Losses

DOGE is currently consolidating, potentially indicating a dip further if it remains below $0.2550. A bearish trend line with resistance at $0.2570 is visible on the hourly chart. A move below $0.2420 could extend these losses.

Resistance and Support Levels

Immediate resistance is near $0.2550, with potential for further gains toward $0.260, $0.2780, and even $0.2920. Conversely, initial support is near $0.2470, with major support levels at $0.2420 and $0.2350. A breakdown below $0.2350 could lead to a slide toward $0.2120 or $0.2050.

Technical Indicators & Outlook

The hourly MACD is gaining bearish momentum, while the RSI is below the 50 level. Technical analysis suggests a cautiously negative outlook for Dogecoin in the near term.