Dogecoin (DOGE) fell sharply from a recent high near $0.1175 and is now testing a critical support level at $0.10, with hourly chart data showing a bullish trend line forming at that threshold even as momentum indicators tilt bearish.
What Happened: DOGE Correction Deepens
The meme coin failed to break through the $0.1175 resistance — a level where both Bitcoin (BTC) and Ethereum (ETH) managed to push higher — and subsequently dropped below the $0.1120 and $0.1080 marks. The sell-off drove DOGE past the 50% Fibonacci retracement of its move from the $0.0878 swing low to the $0.1175 high, briefly touching levels below $0.1040.
The price has since stabilized above $0.10 and the 100-hourly simple moving average. Immediate resistance sits at $0.1035, with more significant barriers at $0.1065 and $0.1085; a sustained close above $0.1085 could open the door to a retest of $0.1150 and $0.1175.
Also Read: Crypto Industry Builds $193M War Chest Ahead Of Midterm Elections
Why It Matters: Key Support at Risk
Technical indicators paint a cautious picture. The hourly MACD is gaining momentum in bearish territory, and the RSI has dropped below 50 — both signals that selling pressure could persist.
If the $0.10 support and the trend line fail to hold, the next major floor appears near $0.0950, which aligns with the 76.4% Fibonacci retracement level, followed by $0.0928.
A break below $0.0928 could accelerate losses toward $0.0880 or even $0.0850.
Read Next: Russia Moves To Regulate $130B Crypto Market As Daily Volumes Hit $648M
