DOGE

Dogecoin

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Dogecoin corrected some gains and traded below $0.0950 against the US Dollar. DOGE is now holding the $0.0885 support but might decline further. DOGE price started a fresh downside correction from $0.1020. The price is trading below the $0.10 level and the 100-hourly simple moving average. There is a key declining channel forming with resistance at $0.0935 on the hourly chart of the DOGE/USD pair (data source from Kraken). The price could aim for a fresh increase if it remains stable above $0.0880. Dogecoin Price Dips Again Dogecoin price started a downside correction after it failed to clear $0.1020, like Bitcoin and Ethereum . DOGE declined below the $0.10 and $0.0980 levels. There was a move below the 50% Fib retracement level of the upward move from the $0.080 swing low to the $0.1020 high. The bears even pushed the price below $0.090. Besides, there is a key declining channel forming with resistance at $0.0935 on the hourly chart of the DOGE/USD pair. Dogecoin price is now trading below the $0.10 level and the 100-hourly simple moving average. Immediate resistance on the upside is near the $0.0935 level. The first major resistance for the bulls could be near the $0.0950 level. The next major resistance is near the $0.10 level. A close above the $0.10 resistance might send the price toward $0.1050. Any more gains might send the price toward $0.1120. The next major stop for the bulls might be $0.120. More Losses In DOGE? If DOGE’s price fails to climb above the $0.10 level, it could continue to move down. Initial support on the downside is near the $0.0885 level and the 61.8% Fib retracement level of the upward move from the $0.080 swing low to the $0.1020 high. The next major support is near the $0.0850 level. The main support sits at $0.080. If there is a downside break below the $0.080 support, the price could decline further. In the stated case, the price might slide toward the $0.0765 level or even $0.0750 in the near term. Technical Indicators Hourly MACD – The MACD for DOGE/USD is now gaining momentum in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for DOGE/USD is now below the 50 level. Major Support Levels – $0.0885 and $0.0850. Major Resistance Levels – $0.0935 and $0.1000.

Sellers dominate DOGE markets, with leveraged shorts outweighing longs and key levels threatening sharp liquidations.

Dogecoin continues to struggle as bearish momentum dominates the cryptocurrency market. The meme coin has dropped 3.26% in the last 24 hours, trading at $0.08978 at the time of writing. Technical indicators suggest further downside may be imminent as key support levels come under threat. Trading volume remains subdued, indicating that investors are hesitant to enter positions at current price levels. This lack of conviction has left DOGE vulnerable to additional selling pressure. Short-Term Outlook Points to Further Decline The hourly chart reveals that Dogecoin is testing critical support at $0.08940. Bulls must defend this level to prevent a deeper correction. A failure to bounce before the daily close could trigger a breakdown to the $0.089 region. Technical patterns show no clear signs of a reversal. The asset continues to trade below major moving averages, confirming the bearish structure. Momentum indicators remain tilted to the downside, suggesting sellers maintain control. Volume analysis paints a concerning picture for those hoping for a quick recovery. The absence of substantial buying activity means bulls lack the firepower needed to reclaim lost ground. Without a significant influx of capital, DOGE appears poised to test lower support zones. The $0.08675 level has emerged as the next major line of defense. A move to this price point would represent a substantial retreat from recent highs. Market participants are watching this zone closely, as a breakdown could accelerate the selling cascade. Medium-Term Technical Breakdown Raises Concerns The weekly timeframe presents an even more troubling scenario for Dogecoin holders. The cryptocurrency has broken below the $0.095 support level, a development that carries significant implications. This breakdown invalidates previous consolidation patterns and opens the door to extended losses. If the current weekly candle closes beneath $0.095, the technical damage will be confirmed. Such a scenario would likely attract additional selling as stop-loss orders are triggered. The path of least resistance would point toward the $0.080 zone, where stronger support may materialize. Historical price action suggests that $0.080 represents a major demand area. This level has previously acted as a springboard for rallies during past corrections. However, reaching this target would mark a decline of more than 11% from current levels. The broader cryptocurrency market environment provides little relief. Bitcoin and other major digital assets have also struggled to gain traction. This lack of leadership from larger cryptocurrencies typically weighs on altcoins like Dogecoin.

Has the rate of DOGE accumulated enough strength for a drop to the $0.080 zone?

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