Dogecoin is showing bearish signs below the $0.150 resistance zone against the US dollar. DOGE may accelerate lower if it breaks the $0.140 support.

• DOGE price is moving lower below the USD 0.150 support zone.
• The price is below the $0.1450 level and the 100-hour basic moving average.
• On the hourly chart, DOGE/USD broke below a key uptrend line with support near $0.1425 (Kraken data source).
• The price needs to settle above $0.1450 to gain bullish momentum and continue rising.

Dogecoin price drops again

After a decent rally, Dogecoin price encountered resistance near the $0.1500 zone. DOGE did not continue its gains and started a up-to-date decline below $0.1450, just like Bitcoin and Ethereum.

There has been a move below the $0.1420 support level and the 100-hour basic moving average. The price fell below the 50% Fib retracement level in an upward move from a low of $0.1337 to a high of $0.1505. Additionally, there was a break below the key uptrend line with support near USD 0.1425 on the hourly chart of the DOGE/USD pair.

Dogecoin is currently trading below the $0.1450 level and the 100-hour basic moving average. Bulls are now protecting the $0.140 support zone and the 61.8% Fib retracement level in an upward move from a low of $0.1337 to a high of $0.1505.

If a up-to-date rally occurs, the price may face resistance near the $0.1420 level. The next major resistance is near the $0.1450 level. A close above the $0.1450 resistance could push the price towards the $0.150 resistance. Any further gains could push the price towards the $0.1632 level. The next major stop for bulls could be $0.1720.

More losses at DOGE?

If DOGE price fails to gain momentum above the $0.1450 level, it may continue to decline. Initial downside support is near the $0.140 level.

The next significant support is near the $0.1375 level. If there is a break below the support at $0.1375, the price may decline further. In the given case, the price may fall towards the USD 0.130 level.

Technical indicators

Hourly MACD – The MACD for DOGE/USD is currently gaining momentum in a bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for DOGE/USD is currently below the 50 level.

Major support levels – $0.1400, $0.1375 and $0.1300.

Major resistance levels – $0.1450, $0.1500 and $0.1632.