Dogecoin (DOGE) is currently trading at $0.091, facing renewed downward pressure after a failed attempt to overcome short-term resistance. The market sentiment remains heavily constrained by the bears as the price slowly bleeds back toward macro support.
In our previous analysis, we stated that “the primary risk lies in a rejection at the current EMA 20 test,” warning that a failure to break higher would cause the price to “rotate back down to test the $0.0855 green support line again.” Since then, the price has played out exactly as anticipated, suffering a hard rejection at the EMA 20 and sliding back toward the $0.091 mark, putting critical support back in the crosshairs.
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Technical Breakdown
The daily chart confirms that the bears remain firmly in control, with lower highs forming and all major moving averages maintaining a downward trajectory. The recent relief bounce proved to be nothing more than a dead-cat bounce into dynamic resistance.
- EMA 20 (Red): Currently resting at $0.099, this line served as perfect sniper resistance over the past week. It continues to act as an aggressive ceiling on any short-term bullish momentum.
- EMA 50 & 100 (Yellow/Black): Positioned at $0.111 and $0.129 respectively. The persistent gap between these lines and the current price highlights the severity of the ongoing downtrend.
- EMA 200 (Blue): Located at $0.154, this long-term indicator is trending steadily lower, further cementing the macro bearish market structure.
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The Bullish Path
For the bulls to mount any credible recovery, they must first halt the current bleed and defend the lower support levels. From there, a decisive daily close above the EMA 20 (currently $0.099) is mandatory. Only by flipping this red dynamic line into support can DOGE look toward reclaiming the first horizontal red resistance zone near $0.123.
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The Bearish Path
The immediate danger is a retest of the green dashed support line at $0.085. Given the recent rejection at the EMA 20, downward momentum is accelerating. If sellers break and close below $0.085, it would signal a catastrophic loss of macro support, potentially opening the trapdoor to lower lows not seen in months.
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Weekly Verdict
Dogecoin’s failure to break the EMA 20 resistance has put the bears back in the driver’s seat, making a crucial retest of the $0.085 support zone highly likely in the coming days.
