By Km Fazi 
Dogecoin (DOGE) has entered a short-term corrective phase after failing to break above the $0.1020 resistance, with price action now trading below $0.095 against the U.S. dollar. While DOGE is currently holding above a key support zone, technical indicators suggest further downside risk if buyers fail to regain momentum.
The recent move mirrors weakness across the broader crypto market, with both Bitcoin and Ethereum also facing corrective pressure.
DOGE Price Trades Below Key Moving Average
Following rejection near $0.1020, Dogecoin initiated a fresh pullback, slipping below both the $0.10 psychological level and the 100-hour simple moving average. The price also dropped under the 50% Fibonacci retracement level, measured from the $0.080 swing low to the $0.1020 high.
Bears briefly pushed DOGE below $0.090, reinforcing the short-term bearish structure. On the hourly chart, a descending channel has formed, with resistance currently positioned near $0.0935, according to data from Kraken.
As long as DOGE remains below this descending channel resistance, upside attempts may face selling pressure.
Key Resistance Levels to Watch
On the upside, immediate resistance is located near $0.0935, aligned with the upper boundary of the declining channel. A successful break above this level could allow DOGE to test $0.0950, followed by a more significant resistance zone near $0.10.
If bulls manage a sustained close above $0.10, the next upside targets come into focus at:
- $0.1050
- $0.1120
- $0.1200, which represents a key medium-term resistance
However, bullish continuation will likely require broader market strength and a decisive reclaim of the $0.10 level.
Downside Risks Remain If Support Breaks
If Dogecoin fails to reclaim higher resistance levels, downside pressure could persist. Initial support is seen near $0.0885, which also aligns with the 61.8% Fibonacci retracement level of the recent upward move.
Below that, additional support levels are located at:
- $0.0850
- $0.0800, which serves as a critical base
A confirmed breakdown below $0.080 could accelerate losses, potentially dragging DOGE toward $0.0765 or even $0.0750 in the near term.
Technical Indicators Signal Bearish Bias
Momentum indicators continue to favor the bears in the short term:
- Hourly MACD is gaining strength in bearish territory
- Hourly RSI remains below the 50 level, indicating weak buying pressure
Unless momentum shifts, DOGE may continue consolidating or trending lower before attempting a recovery.
Dogecoin Technical Levels Summary
- Major Support Levels: $0.0885, $0.0850, $0.0800
- Major Resistance Levels: $0.0935, $0.0950, $0.1000