The post Dogecoin (DOGE) Dips: A Warning Sign or A Hidden Opportunity? appeared on BitcoinEthereumNews.com.

Dogecoin started a fresh decline below the $0.350 zone against the US Dollar. DOGE is now consolidating and might recover if it clears the $0.3350 resistance. DOGE price started a fresh decline below $0.3550 and $0.350. The price is trading below the $0.350 level and the 100-hourly simple moving average. There is a connecting bearish trend line forming with resistance at $0.3350 on the hourly chart of the DOGE/USD pair (data source from Kraken). The price could gain momentum if it clears the $0.3350 and $0.3420 resistance levels. Dogecoin Price Turns Red Dogecoin price started a fresh decline after it failed to surpass $0.40, like Bitcoin and Ethereum. DOGE declined below the $0.3650 and $0.350 support levels to enter a short-term bearish zone. There was a move below the $0.3250 support. A low was formed at $0.3143 and the price is now attempting a recovery wave. There was a move above the $0.3250 resistance but the price is still below the 23.6% Fib retracement level of the downward move from the $0.3981 swing high to the $0.3143 low. Dogecoin price is now trading below the $0.340 level and the 100-hourly simple moving average. Immediate resistance on the upside is near the $0.3350 level. There is also a connecting bearish trend line forming with resistance at $0.3350 on the hourly chart of the DOGE/USD pair. The first major resistance for the bulls could be near the $0.340 level. The next major resistance is near the $0.350 level or the 50% Fib retracement level of the downward move from the $0.3981 swing high to the $0.3143 low. A close above the $0.350 resistance might send the price toward the $0.3620 resistance. Any more gains might send the price toward the $0.380 level. The next major stop for the bulls might be $0.40.…

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Filed under: News - @ January 10, 2025 6:24 am