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On Friday, Dogecoin (DOGE) was trading around the $0.14 mark after continuing the drop that has been going on since October. Dogecoin stayed under important resistance areas, and the indicators were indicating the selling pressure was getting weaker, but at the same time, there was not much interest from the buyers.
Dogecoin price action reflected consolidation rather than recovery as the meme coin capped beneath major moving averages. Market data indicated that the situation was getting to be more stable after several weeks of losses, with traders keeping an eye on the support near the recent lows to check if it could hold.
At the start of the week, Dogecoin dropped below the $0.1420 level owing to the fact that it could not maintain the price above $0.1465. Afterward, the price met the support level of $0.1363, and from there it embarked on a slight recovery. However, this recovery could not bring DOGE above the 100-hour simple moving average, which is considered a support level and the price resistance area. Such a formation kept the market participants wary of price declines as the price movement became less volatile.
Selling pressure slowed, yet price action showed little conviction from buyers. DOGE remained locked in a narrow range, reflecting a balance between fading sellers and cautious participants. Could this pause signal stabilization or simply mark another stage before renewed weakness?
Dogecoin’s hourly chart showed a bearish trend line with resistance near $0.1440. The price struggled to reclaim this level during recent rebound attempts. Immediate resistance also sat near $0.1425, limiting short-term upside.
Moving past the resistance at $0.1440 might create a way up to $0.1490. This level is also where the 76.4% Fibonacci retracement of the move down from $0.1530 to $0.1363 is situated.
The downside support levels are open in case the resistance is not broken. The first level of support was approximately at $0.1380 and then at $0.1360. If the price goes down below $0.1320, it could continue to lose ground toward $0.1250 or $0.1240, according to the present market structure.
On the daily timeframe, DOGE remained below all major exponential moving averages. The 20, 50, 100, and 200 EMAs formed a descending band between $0.146 and $0.196. This structure has capped every rebound since mid-October.
The RSI daily remained around 42, indicating a weak momentum and not oversold. This reading indicated that the selling pressure has been loosened, but there is no control back to the buyers. Consequently, Dogecoin was going back and forth around recent lows.
Spot flow data showed persistent net outflows, including a recent reading near $1 million. This pattern indicated limited spot accumulation. Price stability appeared driven by reduced selling rather than fresh demand entering the market.
Some analysts focused on a multi-year ascending support zone currently under retest. Market analyst Trader Tardigrade noted that similar retests since late 2023 preceded major rallies. Past rebounds from this trendline produced gains of 87%, 210%, and 442% over increasing timeframes.
The analyst pointed to a developing MACD bullish crossover, which previously aligned with trend shifts earlier in the year. Charts suggested that if support holds, Dogecoin could revisit the higher levels seen in October. Other analysts identified a falling wedge pattern forming since October.
Additional observers noted that DOGE is retesting a weekly demand zone that previously sparked rallies. Projections from these setups ranged from short-term moves toward $0.20 to potential recovery toward $0.30 if the area holds.
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DOGE is stuck at the level of $0.14 after a long period of decline, with the selling pressure lessening but resistance still strong. DOGE is being traded below key moving averages while support near its recent lows is being held. The experts are still monitoring the situation to see if DOGE will be able to draw in new demand or will stay in consolidation mode.
