Dogecoin (DOGE) Price: Descending Channel Pattern Points to More Pain Ahead

TLDR

• Dogecoin price remains stuck below key resistance levels inside a descending channel pattern
• Multiple attempts to break above the channel midpoint have failed, showing sellers are in control
• The $0.09 level represents the next major support target if selling pressure continues
• DOGE recently recovered from $0.1175 but hit resistance near $0.1240 and pulled back
• Price is currently trading below $0.1230 and the 100-hourly moving average

Dogecoin price action remains under pressure as the cryptocurrency fails to break through critical resistance zones. The popular meme coin is currently trapped within a descending channel pattern that has defined its price movement for an extended period.

DOGE has made several attempts to push higher but each rally has been met with selling pressure. The channel midpoint continues to act as a ceiling, preventing any meaningful upward momentum from taking hold.

The descending channel structure shows a clear pattern of lower highs and lower lows. This formation typically suggests that downside movement may continue unless price can break out decisively. So far, bulls have not been able to generate the buying strength needed to change this structure.

Recent price action saw Dogecoin attempt a recovery from the $0.1175 level. The cryptocurrency managed to climb above $0.120 but quickly ran into trouble near $0.1240. A bearish trend line is forming at this level on the hourly chart.

Price currently sits below $0.1230 and beneath the 100-hour simple moving average. These technical indicators reinforce the view that bears remain in control of short-term price direction.

Resistance Levels Block Upward Movement

The value area low has flipped from support to resistance. This role reversal is a bearish signal that indicates price is now trading below what the market considers fair value. When this happens, assets often search for lower levels before finding stable ground.

If Dogecoin manages to push higher, the first resistance sits at $0.1240. Above that, bulls would need to clear $0.1280 to gain any real momentum. The next targets after that would be $0.1320 and potentially $0.140.

However, each of these levels represents a challenge for buyers. The repeated failures at the channel midpoint show that sellers are positioned to defend against rallies.

Support Levels Come Into Focus

With upside movement blocked, attention turns to support levels below current price. The immediate support sits at $0.120, followed by $0.1180.

The main support zone to watch is near $0.1150. A break below this level could trigger more selling. If that happens, price could drop toward $0.1080 or even $0.1050 in the near term.

The descending channel’s lower boundary sits around $0.09. This level has not been tested during the current downward phase. Untested support levels often attract price action, especially when the overall structure remains bearish.

The current consolidation below resistance may simply be a pause before the next leg down. The longer Dogecoin remains capped at these levels, the more likely a breakdown becomes. Bulls need to reclaim the channel midpoint with strong volume to change the current trajectory. Until that occurs, downside risk remains the primary concern for traders watching DOGE price movement.

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