DOGE ( DOGE ) Price Prediction: Losing the critical level of $0.25, technical pressure mounts! $0.2165 becomes the lifeline for bulls and bears.

The DOGE to USD exchange rate has recently started a new round of decline, having fallen below the support levels of $0.250 and $0.2420. The current price is consolidating below $0.2320, and the technical chart shows that the key rising channel on the hourly chart (support level at $0.2295) has been breached, with trading below the 100-hour moving average. If it cannot reclaim the $0.2320 resistance, DOGE may further dip to the key support areas of $0.2250 or even $0.2165. Long positions need to defend the $0.2165 line to preserve rebound hopes.

Technical Breakdown: Key Rising Channel Lost After attempting to break through the resistance zone of $0.240, the price of DOGE faced bearish pressure after reaching a high of $0.2430, initiating a new round of decline. The price has consecutively lost support:

1. 0.240 USD psychological barrier
2. 0.2350 USD support level
3. 50% Fibonacci Retracement Level (corresponding to the upward wave segment from the low of $0.2163 to the high of $0.2430) Particularly crucial is that the DOGE/USD hourly chart (data source: Gate) has formed a key rising channel that has declared a breakdown, with the lower support of the channel originally located at 0.2295 USD. The current price is operating at 0.2320 USD and below the 100-hour simple moving average, indicating a weakening technical structure.

Long vs Short: Rebound Resistance and Key Support

• Long positions defense line: Currently, the long positions are striving to defend the 76.4% Fibonacci retracement level (same as the upward wave segment), which coincides with the strong support area at 0.2165 USD.
• Rebound resistance:
  • Initial resistance: $0.2295 (previous channel support turned resistance)
  • Key resistance: $0.2320 (currently resonating with the 100-hour moving average)
  • Stronger resistance: $0.2420
• Upward Target: If it successfully closes above $0.2420, it may drive the price to test the $0.250 resistance, and after breaking through, it could further rise to target levels of $0.2650 and $0.2780.

Downside risk: Pay attention to the support level at 0.2165 USD. If the DOGE price continues to be constrained by the 0.2320 USD resistance, it may extend its fall:

1. Initial support level: $0.2220
2. Key support level: $0.2165 (76.4% Fibonacci level)
3. Final Line of Defense: $0.2150

• Breakout Risk: If the support at $0.2150 is confirmed to be lost, the price may accelerate its fall, with short-term targets pointing to the $0.2050 or even $0.2020 region.

Technical Indicator Signal: Bears Dominate

(Source: TradingView)

• Hourly Chart MACD: Located below the zero line, and bearish momentum bars continue to strengthen.
• Hourly Chart RSI (Relative Strength Index): The current value is below the 50 neutral line, indicating a bearish market momentum.
• Main support levels: $0.2165, $0.2150
• Main resistance levels: $0.2320, $0.2420

Conclusion: DOGE faces a severe test in the short term on the technical front, with the 0.2320 USD resistance and the 100-hour moving average forming a rebound pressure. The contest in the 0.2295-0.2220 USD range will determine whether the price will further dip to the 0.2165 USD key support area. This level serves as the last bastion for long positions, and once breached, it could trigger a deeper correction below 0.2050 USD. Investors need to closely monitor the 0.2320 USD resistance recovery situation and the strength of the 0.2165-0.2150 USD support area. The MACD and RSI indicators also show that the current short positions hold the advantage. Market sentiment and Bitcoin's overall trend will significantly influence DOGE's short-term directional choice.