The Next crypto to hit The meme-inspired cryptocurrency shows signs of weakness after failing to break through critical resistance. Market participants watch closely as DOGE tests crucial support zones.
■ DOGE encounters selling pressure below $0.1150 resistance level
■ Current trading range remains under $0.1080 and below 100-hour SMA
■ Bearish trend line emerges with resistance near $0.1050 on DOGE/USD charts
■ Sustained move above $0.1080 needed for bullish continuation
Dogecoin's Recovery Stalls
Following recent price appreciation, Dogecoin encountered significant resistance near the $0.1150 psychological level. The digital asset established a local peak around $0.1141 before joining the broader market correction.
The breakdown below $0.1080 support marked a shift in market sentiment. Currently testing the 61.8% Fibonacci retracement level from its recent swing low of $0.09134 to high of $0.1141, DOGE finds temporary support near $0.100.
Technical indicators paint a cautious picture as the cryptocurrency trades below both the $0.1080 level and 100-hour moving average. Market participants closely monitor whether current support levels can withstand selling pressure.
Immediate resistance appears near $0.1050, coinciding with a developing bearish trend line. A decisive break above this level could open the path toward $0.1080, with $0.1150 representing the next significant hurdle for bulls.
Potential Downside Scenarios
Failure to reclaim higher price levels may trigger additional downside movement. The $0.100 zone serves as initial support, followed by stronger demand areas near $0.0950.
A breach below $0.0920 support could accelerate selling pressure, potentially driving prices toward $0.0850. Market participants should monitor trading volume and order book depth at these critical levels.
Technical Indicators
Hourly MACD - Shows increasing bearish momentum in DOGE/USD pair
Hourly RSI - Currently below neutral 50 level, indicating bearish sentiment
Key Support Levels - $0.100, $0.0950, and $0.0850
Key Resistance Levels - $0.1050, $0.1080, and $0.1150
