Dogecoin Tests $0.0915 Support After Pullback
Dogecoin is testing a key support level at $0.0915 after a sharp pullback erased recent gains. Technical indicators show bearish momentum building, with bulls needing to push back above $0.0950 to prevent further downside.
Key Takeaway
Bulls must reclaim $0.0955 and break $0.0980 to prevent further downside toward $0.090.
Dogecoin corrected sharply after bulls failed to keep the price above $0.0980, pushing DOGE below $0.0950 and testing the $0.0915 support level. The pullback came after Dogecoin rallied from $0.0859 to $0.1004. DOGE briefly spiked below $0.0950 and is now forming a base above $0.0920, according to hourly chart data from Kraken. The decline pushed the price below the 50% Fibonacci retracement level of the upward move.
Dogecoin is trading above the 100-hourly simple moving average and holding support at $0.0920. A declining channel formed on the hourly chart with support near $0.0912. The immediate resistance sits at $0.0940, with the first major barrier at $0.0955. Breaking through $0.0980 would open the door to $0.10, and further gains could push DOGE toward $0.1050. The next stop for bulls after that would be $0.1120.
Technical indicators point to growing bearish pressure. The hourly MACD is gaining momentum in the bearish zone, while the RSI dropped below 50. If support breaks at $0.0915, the next level to watch is $0.090, which aligns with the 76.4% Fibonacci retracement of the rally from $0.0859 to $0.1004. A drop below $0.0860 could trigger a steeper decline toward $0.0825.
Bitcoin and Ethereum also declined during the same period, dragging meme coins lower. For Dogecoin to reverse course, bulls need to push the price back above $0.0950 and hold it as support, with major resistance levels at $0.0980 and further downside support anchored at $0.0880.
This article was written based on reporting from NewsBTC.
