The price of Dogecoin against the US dollar has begun a new round of decline after breaking below the support at 0.1250 USD, and is currently consolidating at a low level, potentially encountering initial rebound resistance around 0.1235 USD.
📉 Trend Overview: Break below support, continuation of downward movement
After failing to stabilize above 0.1300 USD, DOGE has fallen in line with mainstream assets such as Bitcoin and Ethereum, consecutively losing key supports at 0.1280 USD and 0.1250 USD. The price once dipped to around 0.1198 USD, and currently maintains an overall bearish structure, operating below the 23.6% Fibonacci retracement level of the decline segment from 0.1305 to 0.1198 USD.
The current price is below $0.1280 and the 100-hour simple moving average, overall in a weak consolidation pattern.
🧱 Key resistance and rebound path
If a technical rebound occurs, initial resistance is near $0.1235. Stronger resistance focuses on $0.1280 (close to the 76.4% Fibonacci retracement level) and the $0.1300 level. On the hourly chart, a key descending trend line is also forming pressure near $0.1300.
If the closing price can break above $0.1300, it may further test resistance at $0.1350 and $0.1372, with the next important target looking towards $0.1400.
⚠️ Downside risk and support observation
If the price cannot reclaim the $0.1300 level, the downtrend may continue. Initial support is near $0.1200, followed by $0.1195. The key support area is at $0.1150; if this level fails, it may further test $0.1050, or even challenge the psychological level of $0.1000.
📊 Technical indicator signals
Hourly MACD: Located in the bearish zone and still accelerating downward.
Hourly RSI: Currently slightly above the 50 level, but still not out of the weak pattern.
Main support levels: $0.1280, $0.1250
Main resistance levels: $0.1340, $0.1350
Overall, Dogecoin's short-term structure is bearish, and a rebound must first break through the $0.1300 trend line resistance; otherwise, after a low consolidation, it may continue to seek a bottom.
