Dogecoin has fallen below critical support levels and broken through a key bullish trend line, with the price now trading under $0.140 against the US Dollar. Technical indicators signal mounting bearish pressure.
What Happened: Price Breaks Support
Dogecoin started a fresh decline after closing below $0.150, following similar downward moves in Bitcoin and Ethereum. The cryptocurrency dropped through the $0.1450 and $0.1420 support levels, breaking below a bullish trend line that had provided support at $0.1450 on the hourly chart.
The price fell to $0.1372. DOGE now trades below both the $0.140 level and the 100-hourly simple moving average, positioned beneath the 23.6% Fibonacci retracement level of its downward move from the $0.1531 swing high.
Any recovery would face immediate resistance near $0.1410.
The first major barrier sits at $0.1450, aligned with the 50% Fibonacci retracement level, with additional resistance levels at $0.1495, $0.1530, $0.1550 and $0.1620.
Also Read: Bitcoin Adviser Warns Shiba Inu 'Dead' Unless It Reclaims $0.000014 Support Zone
Why It Matters: Bearish Momentum Builds
If DOGE fails to reclaim the $0.1450 level, downward pressure could intensify.
Support zones sit at $0.1375, $0.1350 and $0.1330, with a break below $0.1320 potentially triggering further losses toward $0.1250 or $0.1240 as the hourly MACD gains momentum in the bearish zone and the Relative Strength Index falls below 50.
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