Dogecoin Slides Toward Key Support as Bearish Momentum Intensifies
Dogecoin’s daily chart is showing clear signs of weakening momentum, with price action slipping below both short-term and medium-term trend levels. Sellers remain firmly in control as $DOGE continues to trade under the 9-day and 20-day EMAs, a structure that typically reflects declining bullish participation and growing downside pressure. Momentum indicators reinforce this tone, with negative MACD readings and an RSI drifting toward lower territory, suggesting buyers are becoming increasingly hesitant.
Key support levels at $0.12240–$0.12210 are now doing the heavy lifting, backed by a significant bid wall that is temporarily stabilizing the price. If this zone gives way, deeper liquidity at $0.12000 becomes the next line of defense.
Below that, the major bid wall at $0.11500 stands as the final barrier before a potential acceleration in losses. Meanwhile, the upside remains capped by stacked ask walls between $0.12339 and $0.12354, followed by stronger resistance at $0.12650 and $0.12806—zones where sellers have historically regained control.
With momentum fading and support levels under strain, Dogecoin’s near-term trajectory depends on whether buyers can absorb sell-side pressure long enough to reclaim short-term trend levels. Until that happens, bears hold the advantage.