Dogecoin's recent market movement has been quite interesting. Starting from $0.1510, it has been trending downward, breaking through $0.150 and $0.1450 successively, with the lowest approaching $0.1348. However, you'll notice that buyers are holding firm at the $0.1420 level. Currently, the price remains above $0.1425, forming a clear tug-of-war between bulls and bears.

From a technical perspective, on the hourly chart, the upward trend line at $0.1420 is gradually taking shape. The price is also still above the 100-hour simple moving average, indicating that the short-term downward pressure has somewhat eased. If the price can hold above $0.1400, there is a higher probability of a rebound. Immediate resistance is at $0.1450, with key resistance levels further up at $0.150 and $0.1510.

However, the risks need to be clarified—on the hourly level, the MACD has entered a bearish zone and is accelerating deterioration, while the RSI has fallen below 50, indicating that the bearish momentum is clearly dominant. What does this mean? If the price cannot break through $0.1450, it is very likely to retest $0.1420. Once that level is broken, the next support is at $0.1410, followed by the core support at $0.1350. If even $0.1350 cannot hold, the downtrend will truly be underway.

So, the key level remains around $0.142. The recent direction over the next few days largely depends on the battle between bulls and bears at this level.