Peter Smith
Dogecoin (DOGE) is showing bearish signals after failing to hold $0.25 support. Technical indicators suggest the meme coin could drop to $0.196 next.
Dogecoin just got rejected at $0.285 - the same level that stopped it back in February. What's worse? It couldn't even hold $0.25 as support, which tells us bears are back in control.
Even while Bitcoin was stable between $116.7K and $122K, DOGE showed zero strength. When BTC finally dropped yesterday, it made things even uglier for the meme coin.
DOGE Technical Indicators Flash Red
The charts are pretty clear here. DOGE trades in a $0.142 to $0.25 range, with the 50-period moving average sitting just below $0.196.
But the technical damage is done. The On-Balance Volume (OBV) hit a fresh low, and RSI dropped below 50. Both scream that sellers are winning.
If DOGE breaks below $0.195, it's likely heading straight for $0.142. Smart traders aren't rushing into shorts yet - they're waiting for a cleaner setup.
Could DOGE Price Bounce?
Here's the twist: liquidation data shows liquidity clusters just under $0.2, with more at $0.227 and $0.25 above.
This overhead liquidity could squeeze DOGE higher despite the bearish setup. If Bitcoin reclaims $116.7K, DOGE might bounce to $0.23 based on 3-day liquidation data.
For long-term holders, last week's fake breakout hurt, but a drop to range lows could offer another buying opportunity.
Peter Smith
