Dogecoin has shed over 20% in the past few days, cooling off sharply after tagging monthly highs. The pullback pushed DOGE down from the $0.15 region to a local low just under $0.12—an area bulls are trying to defend. Still, the broader tape and current trade flow hint that downside pressure may not be finished, with room for another shakeout that forces late sellers out. If that flush plays out, the DOGE price could attempt a rebound, but whether buyers can turn that bounce into a sustained run toward $0.20 remains the key question.
DOGE Price Action: A Clean Falling Channel With Repeated Rejections
The DOGE price is making lower highs and lows inside a highlighted downward channel, where each bounce towards the upper band has met selling pressure. The tokens have also made repeated rejections from the range between $0.15 and $0.153, showing this level has flipped from support to resistance. In this range, where the sellers have consistently defended, keeping the trend bearish, is a rebound to $0.2 possible?
The chart highlights a tight base near $0.12, where price has repeatedly stabalised. This zone matters because it is acting like a temporary demand pocket inside a broader downtrend. But here’s a catch: when the price keeps revisiting the same support in a falling channel, that support usually weakens. This suggests that the bulls are guardian $0.12, but they are not pushing the price back into strength. Only a daily close below this range opens the door to $0.115 initially and later at $0.11, which may potentially extend to $0.10.
Can DOGE Price Trigger a Strong Recovery?
The recovery attempts on the chart appear to be distinct but shallow. It could fail if the price bounces but fails to surpass the range between $0.13 and $0.14. Yet another rejection from the range could keep the price consolidated below $0.15. This is a signal of a bear market bounce but not a reversal. On the other hand, the technicals also remain choppy at the moment, validating the draining strength of the bulls.
The OBV is trending lower, hinting towards a distribution or at least weaker sustained demand through the downtrend. Secondly, CMF is slightly positive, hinting there is still some buying interest, but it’s not strong enough yet to flip the structure. This indicates the buyers are present but are not dominant. A rise to $0.2 is only possible if the Dogecoin price breaks the current bearish structure by holding $0.12 and forming higher lows.
On the other hand, if Dogecoin (DOGE) price fails to reclaim $0.15, the rally is likely to do a lower high, which often leads to another drop toward support.
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