Dogecoin (DOGE) Hits a Wall — Can the Meme Coin Break Through Stiff Resistance?

Dogecoin’s latest rally just slammed into a brick wall. The meme coin—beloved by crypto degens and Elon Musk alike—is struggling to gain traction as selling pressure mounts.

Key Resistance Looms

DOGE bulls are facing an uphill battle. Every attempt to push higher gets smacked down by traders looking to cash in. Classic crypto behavior—buy the rumor, sell the news, then blame ‘market manipulation’ when your bags get heavy.

What’s Next?

If history repeats, Dogecoin needs a viral catalyst or a Musk tweet to break free. Otherwise? Prepare for more sideways action—because nothing says ‘sound investment’ like a currency powered by Shiba Inu memes and hopium.

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.