Dogecoin is in a decline, dropping below the $0.350 mark against the US Dollar. It's consolidating now and could recover if it surpasses the $0.3350 resistance level. The DOGE/USD pair faces a connecting bearish trend line at this level.
DOGE's price started slipping below the $0.3550 threshold, entering a short-term bearish phase. A low was noted at $0.3143, but there's an attempted recovery wave in the making, with prices moving above $0.3250.
The important barriers for any upside are at $0.3350 and then $0.350, corresponding with critical Fib retracement levels. Successfully clearing these could push DOGE towards $0.40.
If DOGE fails to rise above $0.3350, a further fall might follow, with crucial supports at $0.320, $0.3150, and the critical $0.30 level. A breach here could lead to a drop towards $0.2720.
Technical indicators show bearish momentum in the MACD and a dip below 50 in the RSI, indicating prevailing bearish sentiment. Key resistance stands at $0.3400, with major support levels at $0.320 and $0.3150.