Dogecoin (DOGE) slipped below the $0.1010 mark after failing to hold gains above $0.1025, though bulls have so far defended a key support zone near $0.0980 that could determine whether the meme coin mounts a fresh rally or slides toward deeper losses.
Correction Unfolds
The pullback followed a move that saw DOGE retrace past the 50% Fibonacci level of the upward swing from $0.0944 to $0.1044. Prices briefly dipped below $0.10 before buyers stepped in to form a base above $0.0980.
A bullish trend line with support at $0.0968 is now visible on the hourly DOGE/USD chart. DOGE trades above the 100-hourly simple moving average, with immediate resistance at $0.1015 and a more significant ceiling near $0.1040.
Above that, a close past $0.1080 could open the path toward $0.1120 and then $0.1150, with $0.120 as the next major target. On the downside, a break below $0.0950 risks a drop toward $0.0880.
Also Read: Current Bitcoin Cycle Diverges From 2022 Crash Pattern, Analyst Claims
Why It Matters
The hourly MACD is losing momentum in bearish territory, while the RSI has climbed above 50 — a combination that suggests selling pressure may be fading even as the broader correction plays out. The $0.0980 and $0.0968 levels serve as the critical support floors, and a sustained hold above them would keep the short-term bullish structure intact for DOGE.
If the $0.0950 support breaks, however, it would invalidate the current trend line and shift momentum decisively in favor of sellers.
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