Dogecoin Drops 17% From $0.1720 High, Faces $0.1580 Resistance

Generated by AI AgentCoin World
Monday, Jun 23, 2025 1:25 am ET1min read
BTC
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DOGE
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Dogecoin (DOGE) has recently experienced a decline from the $0.1720 zone against the US Dollar, leading to a consolidation of losses. The cryptocurrency is currently trading below the $0.160 level and the 100-hourly simple moving average. Despite this, there is potential for recovery if DOGE can clear the $0.1580 resistance level.

DOGE's price started a fresh decline after failing to surpass the $0.1720 zone, underperforming both Bitcoin and Ethereum. The price dropped below the $0.1600 and $0.1580 levels, with bears pushing it below the $0.1450 level. A low was formed at $0.1427, and the price is now attempting to recover. There was a minor move above the 23.6% Fib retracement level of the downward move from the $0.1718 swing high to the $0.1427 low.

Dogecoin price is now trading below the $0.1580 level and the 100-hourly simple moving average. Immediate resistance on the upside is near the $0.1550 level. The first major resistance for the bulls could be near the $0.1580 level, which is close to the 50% Fib retracement level of the downward move from the $0.1718 swing high to the $0.1427 low. The next major resistance is near the $0.1610 level. A close above the $0.1610 resistance might send the price toward the $0.1720 resistance. Any more gains might send the price toward the $0.200 level. The next major stop for the bulls might be $0.2120.

If DOGE’s price fails to climb above the $0.1580 level, it could start another decline. Initial support on the downside is near the $0.1480 level. The next major support is near the $0.1440 level. The main support sits at $0.1420. If there is a downside break below the $0.1420 support, the price could decline further. In the stated case, the price might decline toward the $0.1350 level or even $0.1280 in the near term.

Technical indicators suggest that the MACD for DOGE/USD is now losing momentum in the bearish zone, while the RSI for DOGE/USD is now above the 50 level. Major support levels are at $0.1440 and $0.1420, while major resistance levels are at $0.1580 and $0.1610.