Dogecoin is back under pressure as weak sentiment across the crypto market drags the popular meme coin below several critical support levels. The price has dipped under $0.13 and is now trading below its 100-hour simple moving average, raising concerns of a deeper move lower if buyers fail to step in.
The drop marks a clear break of a previously strong bullish trend line on the hourly chart. The sell-off didn’t happen in isolation — Bitcoin and Ethereum have also been sliding, setting a negative tone for altcoins across the market.
Dogecoin drops more than 6% in a day
DOGE has lost over 6% in the last 24 hours, and that decline drove the price below multiple support zones. The latest pullback pushed it beneath the 23.6% Fibonacci retracement level measured from the recent swing high to the most recent low. With the price now also holding below the 100-hour moving average, traders are watching closely for any signs of a stronger bearish trend forming.
On the upside, progress looks limited for now. Analysts point to immediate minor resistance levels just overhead. The first major hurdle sits near the 50% Fibonacci retracement of the recent decline. A strong push above that level could flip short-term sentiment, allowing DOGE to retest higher resistance targets that were lost earlier this week.
Risk of deeper losses if supports fail again
However, the chart suggests bulls still have work to do. Failure to clear close-by resistance may keep sellers in control. Initial support sits near the recent low, and below that lies a more critical zone. If Dogecoin breaks beneath those areas again, traders warn that further downside could unfold quickly — potentially sending the price toward lower ranges not seen in weeks.
Indicators flash warning signals
Technical indicators reflect the current pressure. The MACD continues to build momentum in the bearish zone, signaling that selling activity remains strong. Meanwhile, the Relative Strength Index (RSI) is holding below the neutral 50 mark — another sign that bears are currently steering the market.
Dogecoin fans will now be watching Bitcoin’s next move closely. If the broader market continues to struggle, DOGE may have a tough time regaining its footing in the short term.
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