Dogecoin (DOGE) briefly recovered above $0.0920 after touching $0.0880 but now faces mounting resistance near $0.0970 as bearish technical indicators and a contracting triangle pattern on the hourly chart signal a potential breakdown toward the $0.0875 support level.
What Happened: Recovery Stalls at Resistance
DOGE climbed from the $0.0880 zone, crossing above $0.090 and $0.0920 in a move that tracked broader recoveries in Bitcoin (BTC) and Ethereum (ETH). The rally reached the 50% Fibonacci retracement of the drop from $0.1061 to $0.0877 before sellers stepped in near $0.0970.
The token is now trading below $0.0955 and its 100-hourly simple moving average.
A contracting triangle with support at $0.0920 is forming on the hourly DOGE/USD chart.
On the upside, bulls need a close above $0.1020 to target $0.1085 and potentially $0.1150. The 61.8% Fibonacci retracement near $0.0990 represents the first significant hurdle above current levels.
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Why It Matters: Breakdown Risk Growing
The hourly MACD is losing bullish momentum and the RSI has dropped below 50, both suggesting fading upward pressure. If DOGE fails to hold $0.0920, the next support sits at $0.090, with a break below $0.0875 opening a path toward $0.0820 or $0.0800.
The price action underscores how thin the margin is between a continued recovery and a deeper slide. Key support at $0.0920 and $0.0900 will likely determine direction in the near term.
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