Dogecoin (DOGE) Price Drop: Threat of Further Losses Amid Market Volatility

Jakarta, Pintu News – Dogecoin experienced a fresh price drop from the $0.1720 zone against the US Dollar. Currently, DOGE is in a consolidation phase and seems to be struggling to recover past $0.1550.

Dogecoin Slumps Again

Dogecoin (DOGE) started a fresh decline after failing to break the $0.1720 level, similar to Bitcoin and Ethereum . DOGE dropped below the $0.1650 and $0.1550 support levels. Sellers managed to push the price below the $0.150 support level. The price even briefly approached the $0.1280 support, with a low formed at $0.1296.

Recently, the price tried to recover some losses with a slight rise above the 50% Fibonacci retracement level of the decline from $0.1727 to $0.1296. However, sellers were active near the $0.1560 resistance and the 61.8% Fibonacci retracement level of the decline. There is also a bearish trend line formed with resistance at $0.160 on the hourly chart of the DOGE/USD pair. Currently, the Dogecoin price is trading below the $0.160 level and the 100-hour simple moving average.

Also Read: Bitcoin plummets to $70,000, global tariff tensions trigger investor concerns

Key Resistance and Support

The immediate resistance on the upside is near the $0.1500 level. The first major resistance for the buyers might be near the $0.1550 level. The next major resistance is near the $0.160 level. A close above the $0.160 resistance could push the price towards $0.1720. Further upside will probably direct the price towards the $0.180 level, with the next big stop for buyers probably at $0.1880.

If the price of DOGE fails to rise above the $0.150 level, there could be another drop. Initial support on the downside is near the $0.1380 level. The next major support is near the $0.1320 level. The major support is at $0.1280. In case of a break below the $0.1280 support, the price could drop further. In that case, the price may drop towards the $0.1200 or even $0.1120 level in the near term.

Technical Indicators

The hourly MACD for DOGE/USD is currently gaining momentum in the bearish zone. The hourly RSI (Relative Strength Index) for DOGE/USD is now below the 50 level. The key support levels are $0.1320 and $0.1280. Meanwhile, the key resistance levels are $0.1500 and $0.1550. These indicators suggest that the selling pressure is still quite strong and Dogecoin may face difficulties recovering value in the near future.

Cover: Dogecoin’s Future Amid Market Uncertainty

With market conditions full of volatility, the future of Dogecoin (DOGE) looks to be challenging. Investors and traders should pay attention to key support and resistance levels to make informed trading decisions. Monitoring technical indicators will also help in identifying potential further price movements.

Also Read: Can Dogecoin (DOGE) Price Reach $100? Check out the Technical Analysis!

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Trading crypto carries high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• NewsBTC. Dogecoin (DOGE) At Risk of Further Declines Towards $0.1320. Accessed on April 10, 2025
• Featured Image: Generated by AI