Dogecoin has begun a new downward trend from the resistance area of $0.2120, showing weakness compared to Bitcoin and Ethereum in recent sessions. Currently, DOGE is in a phase of accumulation under selling pressure and is at risk of a deeper decline if it fails to hold the important support area of $0.1940.

Recent Price Movements

  • DOGE has fallen from $0.2120 below the important support levels of $0.2050 and $0.2000.

  • The downward momentum has breached the 50% Fibonacci Retracement level of the upward move from $0.1886 to $0.2112.

  • On the hourly chart, a downward price channel is forming with resistance near $0.2000.

  • The price is currently below $0.1980 and the 100-hour SMA, indicating a trend leaning towards the sellers.

Important Resistance Areas

  • First resistance: $0.2000 – if DOGE breaks through this area, a short-term bullish signal may appear.

  • Next resistance: $0.2050 – this is the main barrier preventing DOGE from reversing.

  • Strong resistance: $0.2120 – if this level is surpassed, DOGE may aim for $0.2250 then $0.2350, even $0.2500.

Important Support Areas

  • Nearest support: $0.1940 – coincides with the 76.4% Fibonacci Retracement level.

  • Next support: $0.1880 – if this level is breached, selling pressure will increase significantly.

  • Key support: $0.1750 – losing this area could pull DOGE down to $0.1680 or $0.1620.

Technical Signals

  • MACD (hourly): Gradually increasing in the negative zone → sellers still hold the advantage.

  • RSI (Relative Strength Index): Below 50 → downward momentum remains strong.

Scenarios for DOGE

  • Bullish scenario: Need to break and hold above $0.2050, targets in sequence $0.2120 → $0.2250 → $0.2350.

  • Bearish scenario: If it fails to exceed $0.2050 and breaks below $0.1940, DOGE may continue to drop to $0.1880 → $0.1750.