Dogecoin Near Make-or-Break Zone After Fresh Bitcoin Slide

Dogecoin's price declined 5.5%, dropping to $0.1730 as it fell below critical support levels amid heavy selling pressure, particularly during U.S. trading hours. The price movement indicates a bearish trend, with traders closely monitoring the $0.17 support level to determine if it can hold. The failure to regain the $0.1789 resistance validated bearish momentum, raising concerns about a potential further decline to the $0.1650–$0.1600 zone. Technical analysis revealed that Dogecoin's price broke below short-term moving averages, reinforcing the ongoing bearish bias, as indicated by the hourly RSI near 38. Analysts point to the 200-EMA at approximately $0.16 as a critical support threshold, having been tested multiple times throughout the summer. The immediate focus remains on whether the $0.17 level can withstand pressure, with the lack of significant buying volume leaving the market vulnerable to additional downturns if support levels fail.

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