Dogecoin is falling: what level might the price drop to?

The price of Dogecoin (DOGE) is once again under pressure, hovering around $0.167 at the time of writing. Both daily and hourly charts show a clear picture: buyers are retreating, and momentum is slowing down. After testing resistance at the $0.20 level and failing to break through, the price of DOGE is now losing support at key moving averages.

The daily chart shows a continuous series of lower highs and lows, with the price of DOGE currently trading below the 20-day ($0.185), 50-day ($0.201), and even 100-day moving averages ($0.184). These three dynamic resistance zones are now above the current price, which increases the pressure on the market. Notably, the 200-day moving average is still significantly higher at $0.250, indicating weakness in the long-term trend.

The recent breakout of DOGE below the $0.17 level signals that short-term buyers have exited the game. Heiken Ashi candles are still predominantly red, confirming the bearish trend.