What’s Holding Back The Dogecoin Rally?

Key Resistance Levels

The price is trading under the 100-hour moving average, and a bearish trend line with resistance near $0.2560 is forming on the hourly chart. If DOGE breaks above the $0.2560 and $0.2600 resistance levels, it may see a potential rise.

After a decline from the $0.2840 resistance zone, DOGE dropped below the $0.270 and $0.260 levels, even touching $0.2420. However, it has since recovered above the $0.2500 resistance level. The price is currently trading below $0.260, with immediate resistance at $0.2550.

Further resistance levels are near $0.2620 and $0.2670. A close above $0.2670 could push the price toward $0.300 and $0.320, with a potential target at $0.3420.

Potential Further Declines

If DOGE fails to surpass the $0.260 mark, it could face further declines. Initial support is near $0.2480 and $0.2420, with a key support zone around $0.2350. A break below this level could lead to a drop toward $0.2220 or $0.2150.

Technical indicators suggest that the MACD is losing momentum in the bearish zone, while the RSI remains below 50. Major support levels are at $0.2480 and $0.2420, with resistance levels at $0.2600 and $0.2620.