Dogecoin

Bitcoin

Resistance

Drops

Dogecoin started a major decline below the $0.1150 zone against the US Dollar. DOGE is now trading below $0.100 and showing many bearish signs. 
<ul> 
 <li>DOGE price is down over 15% from well above the $0.1200 pivot zone.</li> 
 <li>The price is trading below the $0.100 level and the 100-hourly simple moving average.</li> 
 <li>There is a key bearish trend line forming with resistance at $0.1000 on the hourly chart of the DOGE/USD pair (data source from Kraken).</li> 
 <li>The price could continue to move down unless it reclaims the $0.100 resistance zone.</li> 
</ul> 
<h2 id="dogecoin-price-drops-over-15">Dogecoin Price Drops Over 15%</h2> 
In the past few sessions, Dogecoin price saw a major decline like <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-plunge-53k/" target="_blank" rel="noopener ">Bitcoin</a> and <a href="https://www.newsbtc.com/analysis/eth/ethereum-price-crashes-2000/" target="_blank" rel="noopener ">Ethereum</a>. The bears took control and pushed the price below the $0.1120 and $0.1050 support levels. 
The price even declined below the $0.1000 support. A low was formed at $0.0881 and DOGE price is now consolidating losses. The price is showing many bearish signs below the 23.6% Fib retracement level of the downward move from the $0.1194 swing high to the $0.0881 low. 
Dogecoin is now trading below the $0.100 level and the 100-hourly simple moving average. Immediate resistance on the upside is near the $0.0950 level. The next major resistance is near the $0.1000 level. There is also a key bearish trend line forming with resistance at $0.1000 on the hourly chart of the DOGE/USD pair. <a href="https://www.newsbtc.com/wp-content/uploads/2024/08/Doegcoin-DOGE.png?resize=1024%2C461"><img loading="lazy" decoding="async" class="wp-image-633091 size-full" src="https://www.newsbtc.com/wp-content/uploads/2024/08/Doegcoin-DOGE.png?resize=1024%2C461" alt="Dogecoin Price (DOGE)" width="1024" height="461" srcset="https://www.newsbtc.com/wp-content/uploads/2024/08/Doegcoin-DOGE.png?resize=1024%2C461?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2024/08/Doegcoin-DOGE.png?resize=1024%2C461?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/08/Doegcoin-DOGE.png?resize=1024%2C461?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/08/Doegcoin-DOGE.png?resize=1024%2C461?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/08/Doegcoin-DOGE.png?resize=1024%2C461?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/08/Doegcoin-DOGE.png?resize=1024%2C461?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/08/Doegcoin-DOGE.png?resize=1024%2C461?w=1140 1140w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1"></a> 
A close above the $0.100 resistance might send the price toward the $0.1040 resistance or the 50% Fib retracement level of the downward move from the $0.1194 swing high to the $0.0881 low. Any more gains might send the price toward the $0.1080 level. The next major stop for the bulls might be $0.1120. 
<h2 id="more-downsides-in-doge">More Downsides In DOGE?</h2> 
If DOGE’s price fails to recover above the $0.1000 level, it could start another decline. Initial support on the downside is near the $0.0880 level. The next major support is near the $0.0850 level. 
The main support sits at $0.0780. If there is a downside break below the $0.0780 support, the price could decline further. In the stated case, the price might decline toward the $0.0720 level. 
Technical Indicators 
Hourly MACD – The MACD for DOGE/USD is now gaining momentum in the bearish zone. 
Hourly RSI (Relative Strength Index) – The RSI for DOGE/USD is now below the 50 level. 
Major Support Levels – $0.0880 and $0.0780. 
Major Resistance Levels – $0.0950 and $0.1000.

Dogecoin Price (DOGE) Slips Alongside Bitcoin and Ethereum: Market Analysis

Table of Contents

NewsBTC

Other articles published on Aug 5, 2024

Senator Cynthia Lummis proposes a bill to adopt Bitcoin as a U.S. strategic reserve

Nvidia stock recovers as Dogecoin, Jasmy, Render lead crypto’s rebound

Hedera Price Crashes Towards $0.05 As Broader Market Weakens

Peter Schiff blasts Bitcoin and Ethereum ETFs; predicts a liquidity crisis

Kujira’s Recovery Plan: Debt Repayment and Future Changes

ETH, Mpeppe (MPEPE) & Bitcoin (BTC): Market Experts Dive Into Bitcoin (BTC) Price Dump & New Cryp...

Join our free newsletter for daily crypto updates!