Jakarta, Pintu News - Dogecoin

At the beginning of this week, DOGE briefly rose and broke the resistance level at $0.2320 (approx. IDR3,805) against the US Dollar.

Jakarta, pintunews - The price of Dogecoin (CRYPTO: DOGE) showed a slight decrease on Monday morning in terms of the U.S. Dollar, and it encountered difficulties breaking out of a crucial resistance level.

Jakarta, pintunews - The price of Dogecoin (CRYPTO: DOGE) showed a slight decrease on Monday morning in terms of the U.S. Dollar, and it encountered difficulties breaking out of a crucial resistance level.

What Happened: The price of Dogecoin moved down slightly and was trading at $0.2180 at the time of writing. The cryptocurrency's price had briefly risen and broke through the resistance at $0.2320 earlier this week.

What Happened: The price of Dogecoin moved down slightly and was trading at $0.2180 at the time of writing. The cryptocurrency's price had briefly risen and broke through the resistance at $0.2320 earlier this week.

However, selling pressure emerged around the $0.2380 level, leading to a decline in the price, and it dropped below $0.2250.

However, selling pressure emerged around the $0.2380 level, leading to a decline in the price, and it dropped below $0.2250.

Key Support: The primary support for Dogecoin is located at $0.2120. If the price breaks below this level, it could continue to decrease and reach the next support at $0.2000 or even $0.1880.

On the other hand, the uptrend line provides support around $0.2200. If the price manages to stay above the uptrend line, it could indicate a continuation of the uptrend.

If the price breaks through the resistance at $00.2320, it could rise further and test the next resistances at $0.2380 and $0.2500. However, without significant trading volume support, the price rally may be difficult to sustain.

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Technical Analysis: The Moving Average Convergence Divergence (MACD) indicator on the hourly chart is showing increasing bearish momentum.

The Relative Strength Index is below the 50 level, which indicates that selling pressure is more dominant.

If the price breaks through the uptrend line with strong trading volume, it could indicate a continuation of the downtrend.

Dogecoin's price movements are being closely followed by cryptocurrency traders and investors. The cryptocurrency has experienced significant price fluctuations in recent months.

Why It Matters: The decline in Dogecoin's price comes amid a broader trend of investors avoiding high-risk assets due to global economic uncertainty.

Why It Matters: The decline in Dogecoin's price comes amid a broader trend of investors avoiding high-risk assets due to global economic uncertainty.

With the Federal Reserve expected to keep monetary policy tight for an extended period, investors are likely to remain more cautious about taking positions on assets like Dogecoin.

With the Federal Reserve expected to keep monetary policy tight for an extended period, investors are likely to remain more cautious about taking positions on assets like Dogecoin.

The lack of significant positive catalysts, such as the meme coin hype earlier in the year, may also be contributing to the price pressure on Dogecoin.

The lack of significant positive catalysts, such as the meme coin hype earlier in the year, may also be contributing to the price pressure on Dogecoin.

Without any strong fundamental developments, it is difficult for the cryptocurrency to maintain its upward momentum.

In the short term, Dogecoin faces the challenge of defending its critical support levels. Investors and traders will be monitoring the $0.2120 level as a leading indicator of the direction of the next price movement.

In the short term, Dogecoin faces the challenge of defending its critical support levels. Investors and traders will be monitoring the $0.2120 level as a leading indicator of the direction of the next price movement.

A break below this level could pave the way for further declines, while a breakthrough of the resistance at $0.2320 with strong trading volume could signal a rally towards higher levels.

A break below this level could pave the way for further declines, while a breakthrough of the resistance at $0.2320 with strong trading volume could signal a rally towards higher levels.