Dogecoin Price Recovery May Stall: Resistance Levels to Watch

Jul 8, 2024 06:00 am Cryptocurrency 66

Dogecoin struggled to recover above the $0.1150 resistance zone against the US Dollar. DOGE is consolidating and might extend losses below $0.100.

DOGE price is struggling to clear the $0.1150 resistance zone.

The price is trading below the $0.1080 level and the 100-hourly simple moving average.

There is a short-term bearish trend line forming with resistance at $0.1050 on the hourly chart of the DOGE/USD pair (data source from Kraken).

The price must settle above $0.1080 and $0.1150 to gain bullish momentum.

Dogecoin Price Takes Hit

After a decent recovery wave, Dogecoin price remained below the $0.1150 resistance zone. DOGE formed a high near $0.1141 and recently started a fresh decline like Bitcoin and Ethereum.

There was a move below the $0.1080 support level. The price dipped below the 50% Fib retracement level of the upward move from the $0.09134 swing ..

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