The cryptocurrency market has once again entered roller coaster mode! Short sellers are seizing the opportunity to jump in and take control, with Bitcoin leading a slight decline. The global crypto market cap has dropped below $3 trillion, and the 24-hour trading volume has fallen below $100 billion, making the market extremely quiet.

In this wave of volatility, DOGE couldn't hold on either, a typical case of "failed breakthrough"—it attempted to surge against the resistance level of $0.133 several times, but ultimately got pushed back, helplessly falling back to the $0.13 range, experiencing a drop of about 1.5% during the session. Now everyone's eyes are on: can the bulls hold the line at $0.13? If they can't, persistent selling pressure might push the price down to $0.125.

DOGE Price Analysis: Pressure is high, just waiting for direction to be set

As market risk appetite declines, DOGE is currently under significant pressure. Although the trading volume looks decent, the upward momentum is clearly lacking. Looking at the 4-hour chart, it is clear that it has been tightly constrained by the resistance zone of $0.133-$0.135, which happens to coincide with the previous area of concentrated positions and the middle band of the Bollinger Bands, making it indeed difficult to break through.

Fortunately, the current price is still hovering above the support zone of $0.128-$0.13, and previous sell orders have been absorbed here. There is still a glimmer of hope on the technical side: the MACD indicator is near the zero line and seems to want to turn upward, indicating that the downward momentum may soon ease, though the strength remains relatively weak.

Next, keep an eye on these two key levels!

  1. Support Level: Strongly defend $0.128-$0.13! If it falls below $0.128, DOGE is likely to test $0.125;

  2. Resistance Level: First look at $0.135! If it can stabilize above this level, there is hope to push towards $0.145-$0.15.

Ultimately, how DOGE moves next depends entirely on whether the bulls can reclaim the $0.14 range. If it can stabilize above $0.14, it indicates that the upward momentum has returned and it can continue to surge; but if it cannot hold the $0.128-$0.13 level, selling pressure will definitely come back, and the risk of falling to $0.125 will be significantly heightened.

Currently, this trend is clearly a standoff between bulls and bears, and the direction has not yet been determined. Brothers, don't operate blindly, just keep an eye on the key price levels!