Dogecoin price is showing some weakness at present. The cryptocurrency is trading below key levels that traders often watch, such as the 20-day, 50-day, and 200-day moving averages. These moving averages give a sense of the broader trend, and being below them suggests that the price is facing resistance.
Technical indicators like the Relative Strength Index (RSI) are pointing toward a bearish tone. The RSI, which helps measure if an asset is overbought or oversold, is sitting around 35. This suggests that Dogecoin is closer to being oversold, meaning there could be room for a bounce if buying interest returns.
The immediate resistance level for Dogecoin appears to be near $0.185. This means that unless the price crosses above $0.185, it could struggle to move higher. On the lower side, support is expected around $0.160. If this level breaks, the price may slide further toward $0.14 to $0.15.
