Dogecoin (DOGE) has initiated a fresh decline, falling below the $0.0930 mark against the US Dollar. The cryptocurrency is currently consolidating losses, facing immediate hurdles near $0.0925 and $0.0938. This downturn follows Dogecoin's inability to hold above $0.0935, mirroring recent price actions in Bitcoin and Ethereum.
The hourly chart for DOGE/USD shows a break below a bullish trend line, with support previously at $0.0925. The price briefly dipped below $0.0905, reaching a low of $0.0903 before a minor recovery. However, it remains below the 100-hourly simple moving average and faces immediate resistance at $0.0920. Significant upside potential hinges on breaking above $0.0930, targeting $0.0950 and potentially $0.0980.
Conversely, failure to reclaim $0.0925 could lead to further declines. Key support levels to watch are $0.0905 and $0.0900. A breach below the $0.0880 support could trigger a significant sell-off, with potential targets at $0.0820 or even $0.0800 in the short term. Technical indicators, including the hourly MACD and RSI, currently signal bearish momentum.