Dogecoin price is now locked below crucial moving averages. Ascending triangle has finally resolved to the downside. DOGE Relative Strength Index (RSI) still not at an oversold reading on the daily chart. Dogecoin (DOGE) price is frustrating the bullish narrative and making the grand forecast of $1 by the end of 2021 look impossible. A failure to hold the lower bound of the ascending triangle and the ensuing collapse below the flattening 50-day simple moving average (SMA) for the first time since mid-December 2020 has shifted the bias from neutral to bearish in the short-term. Dogecoin price faces mounting technical barriers List all of Dogecoin’s supporters, Elon Musk, Mark Cuban, Gene Simmons, Lil Yachty, and Mia Khalifa, among others, lent their voice to the DOGE wave. The problem is that celebrity popularity only carries so much weight in the markets. As a result, since early March, the altcoin has struggled to get price traction and finally succumbed to selling pressure last week. Price rolling over under moving averages is never a good development, and that is precisely the case on the 12-hour chart. Over the last six days, DOGE has struck resistance at the confluence of the 50 twelve-hour SMA and the 100 twelve-hour SMA at $0.056. A break in Dogecoin price will not find credible support until the 0.618 Fibonacci retracement level, an advance from the November 2020 low to the January high at $.040, which represents a 25% decline from the current price. The next reliable support appears at the 100-day SMA at $0.036. DOGE/USD 12-hour chart Bullish projections face resistance at $0.056 and then the ascending triangle’s upper boundary at $0.064, and the price congestion around $0.066. If bulls have the stamina, the 0.618 Fibonacci retracement of the February plunge at $0.074 is a potential target. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next NZD/CHF Price Analysis: Bears seeking a daily downside extension FX Street 1 year Dogecoin price is now locked below crucial moving averages. Ascending triangle has finally resolved to the downside. DOGE Relative Strength Index (RSI) still not at an oversold reading on the daily chart. Dogecoin (DOGE) price is frustrating the bullish narrative and making the grand forecast of $1 by the end of 2021 look impossible. A failure to hold the lower bound of the ascending triangle and the ensuing collapse below the flattening 50-day simple moving average (SMA) for the first time since mid-December 2020 has shifted the bias from neutral to bearish in the short-term. Dogecoin price faces mounting technical… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.