The meme coin Dogecoin (DOGE) is facing another wave of sell-offs, with its price falling below the psychologically important $0.1250 mark. The market remains under pressure, and although a brief consolidation is underway, technical signals suggest the path of least resistance continues downward.
DOGE Loses Its Footing
Dogecoin failed to hold above the $0.1300 level, following in the footsteps of Bitcoin and Ethereum. Its price broke below key support levels at $0.1280 and $0.1250, eventually reaching a low near $0.1198.
Currently, DOGE is stagnating below $0.1220 and the 100-hour simple moving average, which is not a good sign. A short-term recovery faces resistance at $0.1235. If bulls manage to break through $0.1280, the next key target would be $0.1300, where a major descending trendline is also positioned.
Technical Barrier at $0.1300
A breakout above $0.1300 could open the door to $0.1350 and $0.1372, potentially even reaching $0.1400. For now, however, the market remains cautious and lacks bullish momentum.
Is Another Sell-Off Looming?
If Dogecoin fails to gain buying pressure, the decline may continue. The nearest support lies at $0.1200, followed by $0.1195. The key support, however, stands at $0.1150—if this level breaks, it could trigger a drop to $0.1050 or even $0.10.
Technical Indicators:
🔹 MACD: Still in the bearish zone
🔹 RSI: Falling, currently below the neutral 50 level
🔹 Key resistance: $0.1280 and $0.1300
🔹 Key support: $0.1200 and $0.1150
Dogecoin now stands at a crucial crossroads, where its next direction will be decided. Bulls need a strong catalyst, or the price may continue to slide. The big question remains: Will optimism return soon, or is DOGE headed for another bearish leg?
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