Dogecoin's price has fallen towards a critical support zone between $0.105 and $0.106, driven by long position liquidations. Recent data from CoinAnk and CW on X indicate that DOGE dropped from $0.116 to near $0.105, erasing gains from an earlier rally. This decline has intensified selling pressure as leveraged positions were forced to liquidate. The weekly chart for DOGE suggests a potential rounded base near $0.10, indicating a possible breakout setup. However, the cryptocurrency must hold above the $0.105 support to avoid further liquidation-driven declines. Resistance levels are identified at $0.111, $0.114, and $0.117, which could challenge any recovery attempts. A sustained move above $0.108 might alleviate immediate downside risks, while failure to maintain the $0.09 to $0.10 support could undermine the bullish structure.
Dogecoin Faces Key Support Test Amid Liquidation Pressure
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