The post Dogecoin (DOGE) Price Slips Below Support: Is a Bullish Rebound Still on the Table? appeared first on Coinpedia Fintech News
Dogecoin slipped below a key support zone once again, raising fresh concerns about whether bulls are losing control of the trend. The renewed decline comes as broader market sentiment remains fragile, with buyers struggling to defend higher lows across major altcoins. While DOGE’s short-term structure shows clear weakness, price action is approaching levels where strong reactions have formed in the past. The next 24 hours may determine whether Dogecoin rebounds—or confirms a deeper correction ahead.
Why Dogecoin Is Failing to Hold Support
Dogecoin’s latest breakdown below key support zones comes after several weeks of weakening momentum and fading demand. While DOGE price has historically shown sharp recovery potential, current market conditions have amplified selling pressure, leaving buyers unable to defend critical price levels. Several technical and market-driven factors are contributing to this persistent failure of support.
Key Reasons Behind the Support Breakdown
- Repeated Lower Highs Are Weakening Trend Structure: DOGE continues to print lower highs, signaling strong seller dominance and draining bullish momentum near each bounce.
- Declining Trading Volume at Support Levels: Each retest of major support has shown lower buying volume, indicating reduced conviction from bulls during pullbacks.
- Whale Activity Has Softened: Large holders are not accumulating aggressively, and some wallets are distributing on rallies, adding pressure in support zones.
- Broader Market Sentiment Is Fragile: Bitcoin’s volatility and risk-off behavior across altcoins have directly impacted DOGE, making support zones more vulnerable.
- Lack of Fresh Catalysts or Hype: Unlike previous cycles, DOGE currently lacks strong narrative momentum, reducing speculative flows that usually help defend price floors.
- Increased Liquidity Sweeps Below Support: Market makers are sweeping liquidity under key levels before sharp rebounds, causing temporary but aggressive dips that look like breakdowns.
Key Levels Dogecoin Must Hold in the Next 24 Hours
Dogecoin is approaching a critical juncture where short-term price direction could shift decisively. With sellers testing deeper liquidity pockets and buyers struggling to regain control, the next 24 hours will revolve around how DOGE reacts to a narrow cluster of support and resistance levels.
Essential Levels to Watch
- Immediate Support: $0.272—This zone is the first line of defense. If DOGE cannot reclaim and close above it, downside pressure will intensify.
- Critical Support: $0.10 to $0.11—A break below this level signals a confirmed shift toward a deeper correction. It’s where past rebounds have originated, making it a crucial floor for bulls.
- Short-Term Resistance: $0.158–$0.162—DOGE must flip this zone back into support to signal any meaningful recovery. Failure here keeps the price trapped in a bearish structure.
- Breakout Level: $0.172—A strong close above $0.172 would invalidate near-term bearish pressure and open the door for a sharper rebound.
The weekly price action of DOGE is largely bearish, as the token has dropped below the ascending trend line that it has held since the start of 2024. On the other hand, the weekly RSI has dropped below the crucial support it held since 2023, which is a huge bearish signal for the upcoming Dogecoin price action.
What to Expect This Week
The DOGE price has slid below the pivotal support at the 200-day weekly MA at $0.1367 and a close below the range may validate the bearish continuation. If Dogecoin holds above $0.145, a consolidation phase followed by a relief bounce is likely. But if the price loses $0.138, selling momentum may accelerate, confirming a breakdown and increasing the probability of retesting lower support levels.