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Dogecoin (DOGE) began a fresh decline after closing below $0.1120, moving in line with broader weakness seen in major cryptocurrencies such as Bitcoin and Ethereum. DOGE fell below the $0.110 and $0.1080 support levels and dipped toward $0.1050, where a low formed near $0.1058.
Following the move from the $0.1172 swing high to the $0.1058 low, DOGE is trading below the 23.6% Fibonacci retracement level of that decline. The price is also below the $0.1085 level and below the 100-hourly simple moving average, indicating bearish control.
On the upside, the first resistance is near $0.1085. A bearish trend line is also forming on the hourly chart of the DOGE/USD pair, with resistance at $0.1085. If DOGE attempts a recovery, the next major resistance for buyers is around $0.110, followed by $0.1115, which aligns with the 50% Fibonacci retracement level of the $0.1172-to-$0.1058 decline.
If DOGE closes above the $0.1115 resistance, the price could move toward $0.1132, with further gains potentially extending to $0.1145. The next major upside level cited for bulls is $0.1720.
If DOGE fails to reclaim $0.1085, the decline could continue. Initial downside support is near $0.1050, followed by the next major support around $0.1020. The main support level is at $0.10.
Should DOGE break below $0.10, the article notes the price could decline further, potentially sliding toward $0.0880 or even $0.0820 in the near term.
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