XLM Price Prediction: Will Stellar Breakout After 25% Drop?

Dogecoin started a fresh decline from the $0.1820 zone against the US Dollar. DOGE is now consolidating losses and might recover if it clears $0.1750.

• DOGE price started a fresh decline below the $0.1820 and $0.180 levels.
• The price is trading below the $0.1780 level and the 100-hourly simple moving average.
• There was a break above a bearish trend line forming with resistance at $0.1680 on the hourly chart of the DOGE/USD pair (data source from Kraken).
• The price could start a fresh decline if it stays below the $0.1780 zone.

Dogecoin Price Faces Resistance

Dogecoin price started a fresh decline after it failed to clear the $0.1820 zone, underperforming Bitcoin and Ethereum. DOGE declined below the $0.1800 and $0.1780 levels.

The bears even pushed the price below the $0.170 level. A low was formed at $0.1641 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 $0.1811 swing high to the $0.1641 low.

Besides, there was a break above a bearish trend line forming with resistance at $0.1680 on the hourly chart of the DOGE/USD pair. Dogecoin price is now trading below the $0.1780 level and the 100-hourly simple moving average.

Immediate resistance on the upside is near the $0.1725 level. It is close to the 50% Fib retracement level of the downward move from the $0.1811 swing high to the $0.1641 low. The first major resistance for the bulls could be near the $0.1750 level.

The next major resistance is near the $0.1820 level. A close above the $0.1820 resistance might send the price toward the $0.1880 resistance. Any more gains might send the price toward the $0.200 level. The next major stop for the bulls might be $0.2120.

Another Decline In DOGE?

If DOGE’s price fails to climb above the $0.1750 level, it could start another decline. Initial support on the downside is near the $0.1680 level. The next major support is near the $0.1640 level.

The main support sits at $0.1620. If there is a downside break below the $0.1620 support, the price could decline further. In the stated case, the price might decline toward the $0.150 level or even $0.1440 in the near term.

Technical Indicators

Hourly MACD – The MACD for DOGE/USD is now losing momentum in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for DOGE/USD is now above the 50 level.

Major Support Levels – $0.1640 and $0.1620.

Major Resistance Levels – $0.1750 and $0.1800.

Synthetix Network is shutting down its support on the Base chain. Users should close trades and move tokens soon. This kind of event may cause fast actions in the market, like selling SNX or moving funds out. If people see this as a weakness, price could drop. But if SNX is strong on other chains, the impact might be light. Sometimes changes like this bring lots of worry, so price may be more volatile in the days near the event. More info found here: source.

When an exchange like BitMart makes a new announcement, it can bring strong attention to its token, BMX. Depending on what BitMart shares, such as new products or partnerships, buyers may become excited and push the price up. But if the news is small or not important, the price may not change much. People will watch closely to see if the update is big or just routine. Announcement events are often short-term price movers, but long-term effect depends on real value added. Learn more here: source.