Dogecoin, the meme coin that refuses to grow up, is having a bit of a moment. Or, more accurately, a bit of a slump. It’s currently flirting with the $0.2620 zone like it’s a bad Tinder date. Spoiler: it’s not going well.
- DOGE price decided to take a nosedive below $0.270 and $0.2620. Because why not?
- It’s now trading below $0.2580 and the 100-hourly simple moving average. Fancy.
- There was a brief moment of hope when it broke above a bearish trend line at $0.2540. But let’s not get too excited.
- If it can clear $0.2550 and $0.2620, it might actually do something. Big if.
Dogecoin’s price is currently trying to recover from its latest existential crisis. It dipped below $0.2750, because apparently, it’s not cool enough to hang with Bitcoin and Ethereum. It even spiked below $0.2550, which is basically the crypto equivalent of hitting rock bottom.
There was a slight recovery, with a move above the 23.6% Fib retracement level. But let’s be real, it’s still struggling to settle above $0.2550. It’s like watching someone try to climb out of a swimming pool with no ladder. Painful.
If DOGE can somehow manage to close above $0.2720, it might actually go somewhere. But let’s not hold our breath. Any more gains could send it toward $0.300, and then maybe $0.320. But honestly, at this point, it’s anyone’s guess.
If DOGE fails to climb above $0.2550, it could start another decline. Initial support is near $0.2500, with the main support at $0.2420. If it breaks below that, well, let’s just say it’s not going to be pretty.
Technical Indicators
Hourly MACD – The MACD for DOGE/USD is losing momentum in the bullish zone. Shocking.
Hourly RSI (Relative Strength Index) – The RSI for DOGE/USD is now below the 50 level. Because of course it is.
Major Support Levels – $0.2500 and $0.2420. Because everyone needs a safety net.
Major Resistance Levels – $0.2550 and $0.2620. Because why make it easy?
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2025-02-21 08:12