DOGE Faces Downward Momentum—Critical Support Break May Accelerate Declines

Dogecoin (DOGE) is exhibiting signs of weakening market structure as bearish technical patterns emerge. A breakdown below key support levels could catalyze intensified selling pressure, potentially leading to a sharp correction. Traders are closely monitoring volume trends and order book liquidity for confirmation of further downside. The meme cryptocurrency’s price action suggests diminishing bullish conviction, with risk of cascading liquidations if critical thresholds are breached. Market participants should watch for increased volatility amid this technically vulnerable setup.

Dogecoin Price Turns Red

Dogecoin price started a fresh decline after it failed to clear $0.1680, like Bitcoin and Ethereum. DOGE dipped below the $0.1620 and $0.1600 support levels.

The bears were able to push the price below the $0.1550 support level. It even traded close to the $0.1500 support. A low was formed at $0.1504 and the price recently corrected some losses. There was a minor move above the 23.6% Fib retracement level of the downward move from the $0.1694 swing high to the $0.1504 low.

Dogecoin price is now trading below the $0.1600 level and the 100-hourly simple moving average. Besides, there is a short-term rising channel or a bearish flag forming with support at $0.1540 on the hourly chart of the DOGE/USD pair.

Immediate resistance on the upside is near the $0.1580 level. The first major resistance for the bulls could be near the $0.1600 level and the 50% Fib retracement level of the downward move from the $0.1694 swing high to the $0.1504 low.

The next major resistance is near the $0.1620 level. A close above the $0.1620 resistance might send the price toward the $0.1700 resistance. Any more gains might send the price toward the $0.1720 level. The next major stop for the bulls might be $0.1800.

Another Decline In DOGE?

If DOGE’s price fails to climb above the $0.1600 level, it could start another decline. Initial support on the downside is near the $0.1540 level. The next major support is near the $0.1520 level.

The main support sits at $0.1500. If there is a downside break below the $0.1500 support, the price could decline further. In the stated case, the price might decline toward the $0.1420 level or even $0.1350 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 – $0.1540 and $0.1500.

Major Resistance Levels – $0.1600 and $0.1620.