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

about 22 hours 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.