Usman Salis
⬤ Dogecoin's price action is showing clear signs of weakness after multiple failed attempts to break back above key resistance levels. Trading around $0.149, DOGE has slipped below a previously reliable ascending trendline on the 4-hour chart. The meme coin is moving in sync with the broader altcoin market, which is also displaying structural fragility across the board.
⬤ The chart reveals several rejections near the $0.155 zone, including a notable bounce off the 0.786 Fibonacci level. DOGE hasn't been able to retest this area with any real conviction, and losing the rising trendline has left the price stuck in consolidation below $0.1516. If buyers can't push through these resistance zones with force, the technical setup points toward a continuation down to the $0.144 area.
⬤ For Dogecoin to reverse this bearish outlook, the market would need to show a strong shift in momentum and reclaim critical structure. Without that kind of recovery, DOGE looks likely to roll over in the near term. The chart suggests a downward trajectory that could extend toward $0.141 if selling pressure picks up steam.
⬤ What happens with Dogecoin matters beyond just DOGE holders—it often reflects broader sentiment across major altcoins. The failure to break resistance is keeping traders cautious in the short term, with many watching to see whether DOGE stabilizes here or confirms a deeper pullback. How this plays out could shape expectations around liquidity, momentum, and overall risk appetite in the altcoin space.
Usman Salis
