Recently, I've been focusing on the 4-hour K-line chart of Dogecoin, spending a lot of time analyzing several core indicators to clarify the current situation. Instead of holding back, I might as well lay out a few possible trend scenarios for everyone.

**What signals are the technical indicators actually sending?**

Looking at the chart, the price is firmly pressed below the key support level of 0.151. The upper resistance at 0.157 is like a thick hat, and the space is severely squeezed.

The most eye-catching is the MACD indicator—both the yellow and white lines are still above the zero axis, but these two lines are gradually moving downward, which is a typical "upward momentum exhaustion" signal. To compare, it's like a car going uphill suddenly releasing the accelerator; it’s still moving forward but losing that driving force.

Volume is even more worth paying attention to. When the recent bearish candle dropped, the corresponding volume did not significantly increase. This is called "bearish decline"—not retail panic selling, but rather those who made profits earlier are retreating slightly. In this situation, selling pressure often comes silently and persists over time.

**Where are the support and resistance levels?**

Looking downward, the recent stepping stone is at 0.1456. If this level is broken, the next line of defense is at 0.139. If this correction becomes more intense, the main target for the bears is likely in the 0.13 to 0.135 range. These levels are supported by historical formations; once broken, further downside exploration may occur.

Looking upward, 0.157 is a clear resistance level. Only a breakout above this level can truly open up upward space; otherwise, the price will keep oscillating between 0.151 and 0.157.

**How to interpret the current situation?**

Summarized in four words: "Weak rebound, strong resistance." Although the bulls are still struggling, they clearly lack sustained upward momentum. This is not a bottom signal but a consolidation phase that requires patience.

Recently, Dogecoin's performance reflects the market's reassessment of risk. On one hand, on-chain activity and community enthusiasm still exist, but on the other hand, market participants' confidence in short-term gains is gradually weakening. Under this contradictory state, it’s common to see several days of oscillation in the bottom zone.

If there is a significant volume-driven rebound breaking through 0.157, the bulls can regain control. Otherwise, continued downward decline testing support levels below is the risk to watch out for. The key still depends on whether volume can match price movements—divergence between volume and price often signals a trend reversal.