DOGE Price News: Dogecoin Near Make-or-Break Zone After Fresh Bitcoin Slide

Dogecoin has experienced a significant decline, dropping 5.5% to $0.1730 and breaking below critical support levels due to heavy selling. This recent dip highlights a bearish trend, with traders awaiting the resilience of the $0.17 support level, which if broken, could lead to further declines toward the $0.1650–$0.1600 zone. The price movement indicates a textbook lower-high, lower-low formation, especially during European trading hours, as pressure mounted at the $0.1789 resistance level. Notably, the $0.1719 zone was noted for absorbing multiple tests, though this stability appears fragile. On a technical scale, Dogecoin's breakdown below short-term moving averages reflects the ongoing bearish bias. The hourly RSI is close to 38, suggesting mildly oversold conditions. Analysts point out the importance of maintaining the $0.16 level, which has historically acted as a structural support line. If the $0.1720–$0.1719 support fails, the next significant barrier will likely be at the 200-EMA level around $0.1650.

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