Dogecoin Faces Rising Bearish Threat Following Rejection: Will DOGE Price Drop Toward $0.1?
The crypto market has been witnessing a choppy trend in recent hours and neither bulls nor bears control the momentum. As a result, the meme coin market is facing liquidation from buyers, resulting in a bearish consolidation. Dogecoin price is currently declining and is approaching the critical support line following rejection. This leaves the question whether DOGE price could revisit the $0.1 level. The 20-day EMA, currently around $0.14, is slowly trending downward, while the RSI sits slightly below the midpoint. This suggests sellers are currently controlling the price momentum. If DOGE faces another long-liquidation, it might drop below the moving averages. As a result, Dogecoin may continue trading sideways between $0.12 and $0.16 for a while. A confirmed drop below $0.12 could push the price toward $0.1. On the other hand, a bullish trend might be triggered if the market dismisses the breakdown below the $0.12 support level, opening the door for a move toward $0.19.
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