Dogecoin faced resistance near $0.1450 after recovering from lower support levels. The token trades above its 100-hour moving average but struggles to extend gains. Technical indicators show weakening momentum as bears defend key resistance zones.
What Happened: Price Rebounds Hit Ceiling
Dogecoin started a recovery wave from the $0.1350 zone. The token climbed above $0.1380 and $0.140 resistance levels.
Trading data from Kraken shows the move surpassed the 23.6% Fibonacci retracement level of the downward move from the $0.1532 swing high to the $0.1351 low.
Bears became active near $0.1440 and $0.1450. The token now trades above $0.1410 and the 100-hour simple moving average. A bullish trend line formed with support at $0.1405 on the hourly chart of the DOGE/USD pair.
Immediate resistance sits near $0.1450 and the 50% Fibonacci retracement level. The first major resistance appears near $0.1490. Additional resistance levels include $0.1530, $0.1620, $0.170 and $0.1720.
Also Read: Current Bitcoin Cycle Shows Four Key Similarities To 2012-2015 Bull Run Setup
Why It Matters: Technical Weakness
The hourly MACD for DOGE/USD is losing momentum in the bullish zone. The Relative Strength Index dropped below the 50 level. These indicators suggest weakening buying pressure.
If Dogecoin fails to climb above $0.1450, it could decline toward support levels. Initial support sits at $0.140 and the trend line, followed by $0.1380. The main support zone remains at $0.1350.
A break below $0.1350 could send the price toward $0.1265 or $0.1250 in the near term. Bulls need to reclaim $0.1530 to target higher resistance zones.
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