Dogecoin’s (DOGE) Struggle to Reach the Top: Strong Obstacles Ahead

Jakarta, Pintu News – Dogecoin (DOGE) experienced a fresh drop from the $0.1820 zone against the US Dollar. Currently, DOGE is consolidating losses and may recover if it manages to cross $0.1750. However, the upside movement is likely to face strong resistance.

Dogecoin (DOGE) Technical Analysis

After failing to break the $0.1820 zone, the price of Dogecoin (DOGE) started a significant decline, slipping below the $0.1800 and $0.1780 levels. The bearish pressure even pushed the price below the $0.1700 level, with a low forming at $0.1641.

Currently, there is a recovery attempt, where the price has moved slightly above the 23.6% Fibonacci retracement level of the last drop from $0.1811 to $0.1641. In addition, there was also a break above the bearish trend line with resistance at $0.1680 on the hourly chart of the DOGE/USD pair. However, Dogecoin is still trading below the $0.1780 level and the 100-hour simple moving average.

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Resistance and Recovery Potential

The immediate resistance on the upside is near the $0.1725 level, which is close to the 50% Fibonacci retracement level of the previously mentioned drop. The first major resistance for the bulls is near the $0.1750 level. If it manages to cross, the next resistance is at $0.1820. A close above this resistance could push the price towards $0.1880 and potentially further up to $0.200. The next major stopping point for the bulls could be $0.2120.

Possible Further Decline

If the price of Dogecoin (DOGE) fails to rise above the $0.1750 level, there could be another drop. Initial support on the downside is near the $0.1680 level, with the next major support near $0.1640. Key support is at $0.1620. In case of a break below this support, the price could drop further. In that scenario, the price may drop towards $0.150 or even $0.1440 in the near term.

Conclusion

Dogecoin (DOGE) is currently in a critical phase, where any upward or downward movement could determine its short-term direction. Investors and traders should monitor the resistance and support levels mentioned to make the right decisions on transactions.

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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. Crypto trading activities are subject to 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) Struggles Below $0.1800, Can Bulls Save the Day? Accessed on June 20, 2025
• Featured Image: Bitcoin News