Dogecoin (DOGE) Price Dips Again Showing Bearish Signs Below the $0.150 Resistance Zone

DOGE could accelerate lower if it breaks the $0.140 support.

Dogecoin (DOGE) price is showing bearish signs below the $0.150 resistance zone against the US Dollar. DOGE could accelerate lower if it breaks the $0.140 support.

Dogecoin price recovered well from the recent decline and it even traded above the $0.145 resistance. However, the bulls failed to gain strength above the $0.150 resistance. As a result, the price started a fresh decline below $0.145 and the 23.6% Fib retracement level of the upward move from the $0.1337 swing low to the $0.1505 high.

Later, there was a recovery above the $0.142 resistance, but the bulls failed to gain strength above the 100-hourly simple moving average. A high was formed near the $0.144 level before the price started another decline.

It seems like the bulls are now protecting the $0.140 support zone and the 61.8% Fib retracement level of the upward move from the $0.1337 swing low to the $0.1505 high. If there is a fresh increase, the price might face resistance near the $0.142 level.

The next major resistance is near the $0.1450 level. A close above the $0.1450 resistance might send the price toward the $0.150 resistance. Any more gains might send the price toward the $0.1632 level. The next major stop for the bulls might be $0.1720.

More Losses In DOGE?

If DOGE's price fails to gain pace above the $0.1450 level, it could continue to move down. Initial support on the downside is near the $0.140 level.

The next major support is close to the $0.1375 level. If there is a downside break below the $0.1375 support, the price could decline further. In that case, the price might decline toward the $0.130 level.

News source：

https://www.kdj.com/cryptocurrencies-news/articles/dogecoin-doge-price-dips-bearish-signs-resistance-zone.html###

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