Dogecoin (DOGE) Eyes $0.127 Support After Classic Bull-Bear Cycle

Dogecoin's price action is tracing a textbook market rhythm—the kind that makes chart analysts nod knowingly while the rest of us check our portfolios for the tenth time this hour.

The Pattern in Play

DOGE is currently navigating the aftermath of a classic speculative cycle. The memecoin isn't just bouncing randomly; it's reacting to defined momentum shifts between buyers and sellers. The key level now? The $0.127 support zone. That's the line in the sand where bulls are expected to make a stand, attempting to halt any further decline and stage a reversal.

Why This Level Matters

Technical support isn't just a number on a screen. It represents a collective memory of past price acceptance—a level where demand previously overwhelmed supply. If DOGE holds above $0.127, it signals that the underlying bullish narrative, however meme-driven, still has fuel. A break below, however, opens the door to deeper corrections, proving once again that in crypto, 'fundamentals' can sometimes mean 'a funny dog and widespread hope.'

The market's next move hinges on this simple test. Will the support hold, or will DOGE need to fetch a lower price? The chart is about to answer.

Dogecoin Bullish Beauty Phase Shows Trend Strength

However, there was a major change in October. A sudden vertical fall indicated a change from the distribution phase to the liquidation phase, with the smart money possibly selling and the retail traders forced to sell.

The fall broke through a number of support areas at once with a change from a bullish to a bearish sentiment.

“Liquidity sweep” territory, which DOGE entered following the crash, showed a gradual downtrend with lower highs and lower lows, including absorbing remaining sell-side liquidity with support at $0.127, which could be a launchpad for a relief rally if purchases are made.

Weekly Chart Confirms Bearish Pressure

As indicated on the one-week DOGE/USD chart on TradingView, DOGE is currently in a larger retracement. The price has retreated to around $0.12 following a high level in late 2024.

DOGE is currently below the 20-Week, 50-Week, and 100-Week moving averages, with the 200-Week moving average at around $0.155 acting as support above.

The set of moving averages is declining, together with a negative MACD and an increasing negative histogram, indicating that bearish momentum is intact.

The RSI is approximately 35, which reflects weakness but not extreme oversold conditions. This implies that even more downward movement might be seen in DOGE prices relative to a possible bounce.

The critical region to watch is at $0.12; if breached on a weekly closing price, a possible decline to $0.10 or even $0.085-$0.09 might be seen.

Resistance will be at $0.15-$0.18 in the event of an upward movement. A strong closing above $0.18 will be required to indicate a reversal in price.