Dogecoin Price On Losing Streak Eyes 10% Fall; Keep Holding?
Following the recent recovery, the dogecoin price turned down from $0.11 resistance and triggered a V-top reversal. This reversal looks like a triangle and, in theory, indicates aggressive selling in the market. This steady downfall may undermine the recent recovery and could plunge this memecoin back to $0.0735. mark.
Key points:
- A possible retest to the $0.0735 support may stall the ongoing downfall
- The RSI indicator, which reflects the strength of the recent price action, projects a negative outlook as its slope slips deeper into a bearish zone.
- The 24-hour trading volume in the Dogecoin coin is $1.03 Billion, indicating a 42% gain.
Source-Tradingview
On December 5th, the Dogecoin price showed a sharp rejection from the $0.11 barrier. The resulting reversal and weakness in the crypto market tumbled the coin price by 26% in the last two weeks.
This downfall breached the $0.1 and $0.8242 support levels indicating the sellers are ready to lower the prices. Today, the Dogecoin price is 5% down and shows a decisive breakdown from the mentioned $0.824 support.
If the daily candle closes below this support, the short-selling may get an additional resistance level to prolong a deeper correction. Thus, if the selling pressure persists, this memecoin may drop 10% to revisit the $1100-$1080 support zone.
However, the $1100-$1080 support level is a strong accumulation zone and could replenish the bullish momentum.
Technical indicator
MACD: The increasing spread between the MACD and the signal line indicates the rising selling pressure in Dogecoin. Moreover, these slopes on the verge of dropping below the midline will provide additional confirmation for sellers.
RSI: The daily RSI slope dives deeper into the bearish territory, accentuating the increasing bearishness in the market.
EMAs: with the recent downfall, the coin price nosedive below the crucial EMAs(20, 50, 100, and 20), suggesting the sellers have trend control.
Dogecoin Price Intraday Levels
- Spot rate: $0.08
- Trend: Bearish
- Volatility: Low
- Resistance levels- $0.082 and $0.89
- Support levels- $0.072 and $0.066
- BREAKING: BlackRock Amends Bitcoin ETF (IBIT), Ethereum ETF (ETHA) Amid New Milestone
- Bloomberg Analyst Says XRP ETF Approval Odds Now 100% as Expert Eyes $33 Rally
- Hester Peirce Says US SEC Willing to Foster DePIN and RWA Tokenization Projects
- SEC Chair Paul Atkins Says Crypto Is Top Priority At SEC CFTC Roundtable
- Legal Expert Breaks Down XRP’s Appeal as Ripple SWIFT Debate Heats Up
- Dogecoin Price Prediction – Chart Set-Up Highlights Perfect Buying Opportunity With Outflows Backing $0.45
- Bitcoin Price Set to Rebound Ahead of US Government Shutdown, NFP Data
- XRP Price Prediction: How XRP Could React After October 2025 SEC ETF Decisions
- Aster Price Prediction as US President Adds $110M Worth of Tokens to His Portfolio
- Pepe Coin Price Bounce Likely as Support Zone Aligns With Rising Social Activity
- Solana Price Set for Recovery Amid Wyckoff Accumulation and Canary Capital ETF Filing
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
