Dogecoin (DOGE) encountered selling pressure near $0.1065 after staging a recovery from recent lows, with technical indicators suggesting the meme coin may face additional downside if it fails to hold above critical support levels.
What Happened: Recovery Stalls at Resistance
The token climbed above $0.10 and broke through a bearish trend line at $0.1060 on the hourly chart after bouncing from the $0.095 zone.
The move pushed DOGE past the 23.6% Fibonacci retracement level of its decline from the $0.1185 swing high to the $0.0948 low. Bears emerged at the 50% Fibonacci retracement near $0.1065, halting the advance.
The price now trades below its 100-hourly simple moving average.
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Why It Matters: Key Levels Define Next Move
Technical readings point to weakening momentum. The hourly MACD shows bearish positioning while the RSI sits below 50.
Resistance stands at $0.1065 and $0.1120, with a break above the latter potentially opening a path toward $0.1185. Support rests at $0.10 and $0.095, and failure to hold these levels could send the price toward $0.088 or $0.085.
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