Followin WeChat Official Account: Lazy King Squirrel

Doge's exchange rate against the US dollar started falling again from the 0.1880 dollar area. Doge is declining and may test the support area of 0.150 dollars.

• Doge price started falling again, breaking below 0.1850 dollars and 0.1750 dollars.
• The price is below the 0.1750 dollar level and the 100-hour simple moving average.
• A key bearish trend line formed on the hourly chart of Doge/USD, with resistance at 0.170 dollars (data source: Kraken).
• If the price breaks below the support area of 0.1620 dollars, it may expand its decline.

Doge Price Further Declines

Doge price failed to break through 0.200 dollars and started a new round of decline, like Bitcoin and Ethereum. Doge broke below the support levels of 0.1880 dollars and 0.1820 dollars.

Add V: jmay1160 Add QQ: 3788353562

Bears were able to push the price below the support level of 0.1750 dollars. It even approached the support level of 0.1620 dollars. The low point was formed at 0.1628 dollars, and the current price is consolidating its decline, below the 23.6% Fibonacci retracement from the high of 0.2057 dollars to the low of 0.1628 dollars.

Doge price is currently below the 0.1750 dollar level and the 100-hour simple moving average. The direct upward resistance is near 0.170 dollars. A key bearish trend line has also formed on the hourly chart of Doge/USD, with resistance at 0.170 dollars.

The first major resistance for bulls may be around 0.1730 dollars. The next major resistance is around 0.1770 dollars. A closing price above the 0.1770 dollar resistance may push the price towards the 0.1850 dollar resistance.

The 50% Fibonacci retracement of the downward trend from the high of 0.2057 dollars to the low of 0.1628 dollars is also near the 0.1850 dollar area. If it rises further, the price may fall to the 0.1880 dollar level. The next major stop-loss point for bulls may be 0.1950 dollars.

Will Doge Lose More?

If Doge's price fails to break through the 0.1770 dollar level, it may decline again. The initial support level for the downside is around 0.1635 dollars. The next major support level is around 0.1620 dollars.

The major support level is at 0.1550 dollars. If it breaks below the 0.1550 dollar support level, the price may further decline. In this case, the price may fall to the 0.1320 dollar or even 0.120 dollar level in the short term.