Dogecoin fell below $0.14 to trade near $0.1348 after breaking through multiple support levels, with technical indicators showing a declining channel pattern that suggests further losses unless the meme coin can reclaim the $0.1400 resistance zone.
What Happened: Meme Coin Breaks Key Support
The token dropped beneath the $0.1450 and $0.1420 support levels, following a broader market decline that also affected Bitcoin and Ethereum.
Trading data from Kraken's hourly chart shows DOGE forming a declining channel with resistance at $0.1395, while the price remains below the 100-hourly simple moving average.
The token is consolidating below the 23.6% Fibonacci retracement level of the move from the $0.1539 swing high to the $0.1348 low.
Why It Matters: Critical Levels Ahead
The hourly MACD is gaining momentum in bearish territory, though the RSI remains above 50.
Major resistance stands at $0.1400 and $0.1420, with a close above the latter potentially pushing prices toward $0.1445 or the 50% Fibonacci retracement level. Support levels sit at $0.1350 and $0.1320, with the main floor at $0.1280.
A break below $0.1280 could send DOGE sliding toward $0.120 or $0.1180 in the near term.