Dogecoin has begun a fresh decline against the US Dollar, falling below the $0.1050 level. The price is now trading under $0.10 and below the 100-hour simple moving average, showing bearish signs after forming a low near $0.0955.
A recovery attempt above $0.0980 was limited, failing to reach the 23.6% Fibonacci retracement level of the recent drop from $0.1174 to $0.0955. On the hourly chart, a key bearish trend line is forming with resistance near $0.1005.
For any upward move, immediate resistance lies at $0.10, followed by the trend line near $0.1005. The next major hurdle is around $0.1040, which aligns with the 38.2% Fibonacci retracement level. A sustained break above $0.1040 could open the door for a push toward $0.1065, with further targets at $0.1120 and $0.1150.
On the downside, if the price fails to clear the $0.1040 resistance, it could resume its decline. Initial support is near $0.0955, followed by $0.0920. The main support sits at $0.0880; a break below this level could lead to further losses toward $0.0832 or even $0.0820.
Technical indicators reflect bearish momentum:
– The hourly MACD is gaining strength in the bearish zone.
– The hourly RSI is below 50.
– Major support levels: $0.0955 and $0.0920.
– Major resistance levels: $0.1005 and $0.1040.
Frequently Asked Questions
Of course Here is a list of FAQs about Dogecoins stalled recovery and bearish momentum designed to be helpful for both beginners and more experienced observers
Beginner General Questions
1 What does it mean that Dogecoins recovery has stalled
It means that after a period of rising price Dogecoins value has stopped going up and is now moving sideways or starting to decline again losing its positive momentum
2 What is bearish momentum
Bearish momentum is a market trend where the price is consistently moving downward More people are looking to sell than to buy which pushes the price lower Its the opposite of bullish momentum
3 Why did Dogecoin stop going up
Recoveries often stall when buying pressure runs out This can happen due to a lack of major new positive news profittaking by earlier buyers or a general shift in sentiment across the entire cryptocurrency market
4 Is Dogecoin going to crash to zero
While extreme volatility is a risk with any cryptocurrency a crash to absolute zero is considered unlikely for Dogecoin due to its strong established community and brand recognition However significant price declines are possible
5 Should I buy Dogecoin now that its cheaper
This is a personal investment decision While some see a lower price as a discount others see a continuing downtrend Never invest more than you can afford to lose and consider that the price could fall further
Intermediate Market Analysis Questions
6 What are common signs that a recovery is stalling
Key signs include the price failing to break above previous resistance levels lower trading volumes on up days and the price starting to make lower highs and lower lows on the chart
7 How does the broader crypto market affect Dogecoin
Dogecoin is highly correlated with Bitcoin and the overall crypto market When Bitcoin turns bearish or enters a period of fear most altcoins like Dogecoin typically follow suit often with more pronounced swings
8 What role does social sentiment play in Dogecoins price
Huge Dogecoin is famously driven by community hype social media trends and online sentiment A decline in positive mentions or hype can directly contribute to