Dogecoin (DOGE) Gains Bearish Momentum: A Buying Opportunity or Warning Sign?

Dogecoin's price has recently faced a downward trend, failing to break the $0.20 resistance level. This decline saw DOGE trading below key support levels like $0.1880 and $0.180. The price is currently trading below the $0.1850 mark and the 100-hourly simple moving average. A bearish trend line is forming on the hourly chart, with resistance at $0.1880. Immediate resistance is found near $0.1760, with major resistance levels at $0.1840 and $0.1880. If DOGE fails to recover above $0.1850, further declines are likely. Initial support lies near $0.1685 and then at $0.1650, with a more significant support around $0.1550. Should $0.1550 break, the price may drop towards $0.1350 or $0.1320. Technical indicators like the MACD and RSI suggest continued bearish momentum.