Dogecoin Faces Bearish Pressure as Price Struggles Below Key $0.130

2026-01-19 22:36:08

Source: CryptoNewsNet Original Title: Dogecoin Faces Bearish Pressure as Price Struggles Below Key $0.130 Original Link: Dogecoin has entered a fresh decline phase, mirroring the broader cryptocurrency market weakness seen in Bitcoin and Ethereum. The popular meme coin dropped below several critical support zones, raising concerns among traders about further downside potential.

The digital asset broke beneath the $0.1350 threshold, triggering a cascade of selling pressure. DOGE subsequently fell through the $0.1300 and $0.1250 support levels before reaching a low near $0.1154. The price currently trades below $0.130 and remains under the 100-hourly simple moving average, signaling continued bearish momentum.

At the time of writing, Dogecoin trades at $0.1276, suggesting a 7.13% decline in the last 24 hours.

Technical Recovery Faces Strong Resistance

A brief recovery attempt pushed Dogecoin above $0.1220, clearing the 23.6% Fibonacci retracement level measured from the $0.1512 swing high to the $0.1154 low. However, this bounce appears limited in scope. Technical indicators suggest bulls face an uphill battle to reclaim lost ground.

The immediate resistance sits at $0.130. Breaking this barrier would be the first step toward a meaningful recovery. The next significant obstacle emerges near $0.1330, which aligns with the 50% Fibonacci retracement level of the recent downward move. This zone represents a critical test for buyers attempting to reverse the bearish trend.

Beyond $0.1330, the price would need to overcome resistance at $0.1350 and an accompanying trend line. A daily close above this level could open the door to $0.1380. Additional upward momentum might push DOGE toward $0.140, with the next major target at $0.1420.

Downside Risks Remain Elevated

The technical picture grows darker if Dogecoin fails to climb above $0.1300. Continued weakness could trigger another leg down. Initial support on the downside rests near $0.1250, followed by a more substantial floor at $0.1220.

The main support zone sits at $0.120. A breakdown below this level likely accelerates selling pressure. Such a move could send the price tumbling toward $0.1150 or even $0.1135 in the near term. The risk of cascading liquidations increases with each support level lost.

Market participants are closely monitoring momentum indicators. The hourly MACD for DOGE/USD is losing steam in bearish territory. The Relative Strength Index has dropped below 50, confirming the current weakness. These technical signals suggest sellers maintain control of short-term price action.

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.