Dogecoin’s Wild Ride: Will It Bounce Back or Keep Sliding? 🐕💸

by

Ah, Dogecoin. It’s at it again, slipping below the $0.2150 mark like a dog that just can’t learn to stay off the couch. DOGE tried to catch itself at $0.1820, but the poor pup is now just consolidating below the $0.2150 resistance level like a dog with no bone. 🦴

  • Price dropped like your favorite pair of socks—straight below the $0.2150 and $0.2100 levels.
  • Now trading below the $0.2100 mark and under the 100-hourly simple moving average. Talk about a rough patch!
  • Oh, but wait—there was a flicker of hope! A break above a connecting bearish trend line with resistance at $0.1900 (thanks, DOGE!).
  • Could it be? A possible recovery if it clears the $0.2050 and $0.2120 resistance levels? Who knows, maybe the dog will start fetching again.

Dogecoin’s Big Moment: Time for a Comeback?

Dogecoin decided to start its little decline just like the big boys—Bitcoin and Ethereum. A swift fall below the $0.2050 and $0.200 support levels? Sure thing. DOGE even spiked below $0.1880, just to keep things interesting.

The low came in at $0.1826, but hey, it’s still hanging on—consolidating losses, of course. But then, a glimmer of hope! DOGE managed to push above the $0.1950 level like a dog trying to get over a low fence. The bulls even managed to push above the 23.6% Fib retracement level (what a miracle!) from the $0.2421 high to the $0.1826 low.

The break above the bearish trend line with resistance at $0.1900 on the hourly chart was the dog’s equivalent of fetching a stick. But is it enough to rise above $0.2150 and the 100-hourly moving average? Hmmm, that’s a tough one.

Now, the real challenge—upside resistance. It’s lurking around the $0.2050 level. If DOGE clears that, the bulls could start barking at the $0.2120 level, followed by the 50% Fib retracement level from $0.2421 to $0.1826.

Don’t get too excited, though. The next major resistance could be at $0.2195. A close above that, and we might see $0.2220 or even $0.2350, with $0.2420 being the ultimate prize for the bulls. But, like any good dog, it might just chase its tail for a while.

Dogecoin: Ready for a Second Fall?

If DOGE doesn’t manage to make its move above $0.2050, the only way is down. First stop? The $0.1950 support. After that, maybe $0.1920.

But if it really wants to disappoint, we’ll see it break the $0.1820 support level. And oh boy, we could see a real tailspin toward $0.1740 or even $0.1650 in the near future. Could be a rough week ahead. 😬

Technical Indicators

Hourly MACD – The MACD is barely hanging on in the bearish zone. Poor thing.

Hourly RSI – RSI is sitting pretty above the 50 mark. Let’s call that a win, for now.

Major Support Levels – $0.1950 and $0.1820. Hold on tight.

Major Resistance Levels – $0.2050 and $0.2120. Is it too much to ask for a little upward movement? Only time will tell.

Read More

2025-03-05 09:25