Dogecoin (DOGE) has slid again, slipping under the $0.1320 area and now trading below $0.13 as it consolidates recent losses. On the hourly chart for DOGE/USD (Kraken), the token faces a bearish setup that could limit any near-term recoveries. Price action - DOGE began its pullback after failing to hold above $0.1380, in step with broader market weakness in Bitcoin and Ethereum. - The decline pushed through $0.1350 and $0.1340 support, and a low formed near $0.1266. The price is currently consolidating below the 23.6% Fibonacci retracement of the drop from the $0.1530 swing high to that $0.1266 low. - DOGE is trading under the $0.1300 mark and beneath the 100-hour simple moving average, signaling short-term downside bias. Key resistances - Immediate resistance: ~$0.1325. - First major resistance / trend-line barrier: ~$0.1340 (also a key bearish trend line on the hourly chart). - Next resistance cluster: $0.1400, which aligns with the 50% Fib retracement of the $0.1530–$0.1266 move. Above that, potential targets for a sustained rebound include $0.1450, $0.1500 and $0.1550. Support and downside risks - Initial support: $0.1280. - Major support levels: $0.1250 and the critical $0.1200 mark. - A break below $0.1200 could accelerate selling toward $0.1050 or even $0.10 in the near term. Technical indicators - Hourly MACD: gaining momentum in the bearish zone. - Hourly RSI: currently above the 50 level. Outlook Unless DOGE can reclaim and hold above the $0.1340–$0.1350 area to break the bearish trend line, the path lower remains the more likely scenario. A convincing move above $0.1400 would be needed to shift the short-term bias back toward the $0.1500s. Conversely, failure to defend $0.1200 would open the door to deeper losses. (Chart data source: Kraken) Read more AI-generated news on: undefined/news