Saad Ullah
Dogecoin's recent price action suggests trouble ahead. Trading around $0.243 and repeatedly rejected at higher levels, the meme coin is showing signs of exhaustion.
Key Technical Levels
Analyst Ali recently flagged the possibility of a retest at $0.23, which would represent a notable pullback from current levels. With lower highs forming and support zones coming under pressure, traders are preparing for increased volatility.
- Immediate resistance: $0.247
- Secondary resistance: $0.255–$0.263
- Support 1: $0.238
- Support 2: $0.234
- Major downside target: $0.23
What's Happening
The chart tells a straightforward story. After multiple failed attempts to push past the $0.255–$0.263 range, Dogecoin has started printing lower highs—a textbook bearish pattern. Current support at $0.243 is being tested, and if it breaks, the path lower opens up quickly through $0.238 and $0.234 before potentially reaching the $0.23 target.
Meme coins like DOGE tend to amplify market moves, which means a break below $0.238 could trigger cascading stop-losses and accelerate the decline. However, if bulls can hold the $0.243–$0.247 zone, there's still room for stabilization and a potential recovery attempt.
The setup looks bearish, and the next few sessions matter. Either support holds and buyers get another shot, or we're heading to $0.23. For anyone trading this, tight risk management isn't optional—the downside is clear, but rebounds from support can catch shorts off guard just as easily.
Saad Ullah
