Will Dogecoin Recover After Breaking Below Critical Support?

2025-04-06 23:28:26

Abstract generation in progress

Dogecoin price drops to $0.1336 as RSI nears oversold territory at 33.09.
MACD remains bearish with a histogram at -0.00129 and no sign of a bullish crossover.

Dogecoin has dropped to $0.1336 on the 4-hour chart, nearing its lowest value since November 2024, when it was $0.1107. Price action shows renewed selling activity as the chart nears a key historical demand zone

According to an analysis by KrissPax, a descending triangle that broke to the upside around March 20 is notable. After breaking out, DOGE rallied past $0.200. The rally was short as strong selling pressure formed a steep downtrend

***Source:****Krisspax (X)*The pullback tested the previous breakout zone before briefly recovering to the $0.180 level. Currently, Dogecoin reflects a bearish movement as volume spikes in confirmed active participation at these levels. A white horizontal arrow connects the two areas where the price approached this support, pointing to consistent behavior

A deeper view of the observation shows a resistance level around $0.1770, which was recorded last week. Current conditions show Dogecoin responding to repeated support tests without confirmation of upward continuation. Price structure, volume activity, and downward pressure remain the primary drivers of this 4-hour price action.

Dogecoin Current Market Action: Can a Reversal Follow?

Tracking the market action, TradingView data indicates that at the time of writing, DOGE’s price dropped over 18% in the last 24 hours, settling at $0.1336, which is continuing to decine. Combined with technical indicators, DOGE now signals a possible inflection point, though no clear bullish confirmation is seen.

Source: TradingViewRelative Strength Index stands at 33.09 which depicts it is slightly above the average 30 that is considered oversold. This position proves that the token has been in a bearish run within the last number of sessions and clearly shows a bearish pattern. The RSI remains consistent at a 14-day moving average for the bearish trajectory at 42.95.

This divergence suggests continued weakness, but recovery from current levels remains possible if the RSI index crosses back above 40. Zooming in, the Moving Average Convergence Divergence sustains the bearish view. The MACD line sits at -0.01013, while the signal line is slightly higher at -0.00884. The histogram shows a negative value of -0.00129

Any break below this level may spread the bearish trend downward. However, if the RSI index translates into a bearish outlook while the MACD levels off, then the buyers may come back into the market. The current technical charts still show negative signals, but the oversold condition increases the opportunity for a short-term uptick.

Highlighted Crypto News

Will Cardano (ADA) Survive the Crypto Market Meltdown Triggered by Global Tariffs?

DOGE-1.15%

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.