Dogecoin (DOGE) Under Strain, Sellers Eye Another Leg Lower

Dogecoin started a fresh decline below the $0.0950 zone against the US Dollar, and it is now consolidating losses. The price is trading below the $0.0935 level and the 100-hourly simple moving average, indicating a bearish trend. A break below a bullish trend line with support at $0.0920 on the hourly chart of the DOGE/USD pair has occurred, which could lead to further losses. The price could extend losses if it stays below $0.0920 and $0.0932, and a low was formed near $0.0885, with the price now showing bearish signs. Dogecoin price started a fresh decline after it closed below $0.10, similar to Bitcoin and Ethereum, and it declined below the $0.0950 and $0.0932 support levels. The price even traded below $0.0920, and there was a recovery wave above $0.0900, but it stayed below the 38.2% Fib retracement level of the downward move. If there is a recovery wave, immediate resistance on the upside is near the $0.0920 level, and the first major resistance for the bulls could be near the $0.0932 level. The next major resistance is near the $0.0950 level, and a close above this resistance might send the price toward the $0.0975 resistance. If DOGE's price fails to climb above the $0.0932 level, it could continue to move down, with initial support on the downside near the $0.0885 level, and the main support sits at $0.0820. The technical indicators, including the Hourly MACD and Hourly RSI, are also indicating a bearish trend, with the MACD gaining momentum in the bearish zone and the RSI below the 50 level.