The Dogecoin price remains under bearish pressure as the memecoin moves closer to its annual low, reflecting broader weakness in the crypto market. DOGE has fallen almost 4% in the last session and is now trading near a crucial support zone around $0.078, a level that could decide the next big move.
With the price dipping below key support points and momentum indicators pointing to weakness, investors are now wondering if Dogecoin can stage a recovery or if the decline will continue deeper before the month-end.
DOGE price breaks key support as sellers maintain control
The daily chart shows Dogecoin losing a key support zone between $0.088 and $0.089, which had previously acted as a strong accumulation area in recent months. This breakdown signals a shift in market structure as DOGE continues to form lower highs and lower lows. Price is now testing the next major demand zone between $0.078 and $0.080, which appears to be the last major support before a possible return to the yearly lows.
Historically, this area has attracted buyers, making it a crucial level to watch in the near term. However, if this support does not hold, selling pressure could increase quickly.
The Relative Strength Index (RSI) has fallen to 29, putting DOGE in oversold territory. While the MACD remains below the zero line, reinforcing the broader bearish trend. While the histogram is starting to flatten out somewhat, indicating that selling momentum may be slowing, there is still no confirmed bullish crossover supporting a stronger recovery. Together, these indicators suggest that the market remains under pressure, with bulls still unconvinced.
What’s next for the DOGE price before the monthly close? Can Dogecoin recover?
Dogecoin is approaching a crucial turning point as the month draws to a close. The current structure suggests that the token is still under heavy bearish pressure. However, the lack of panic-driven volume indicates that this could still be a controlled correction rather than a complete capitulation.
The most realistic short-term scenario appears to be a period of consolidation around the $0.078 zone, with the possibility of a liquidity move to $0.074 before buyers attempt a recovery.
For Dogecoin to regain bullish momentum, buyers need to regain the broken support near USD 0.088, which could open the way to the next resistance at USD 0.096. If DOGE manages to break above USD 0.096, it could attempt a stronger recovery towards USD 0.105, which remains the next major upside barrier.
On the other hand, the inability to defend the current support at $0.078 could trigger a sharper decline towards $0.074, followed by $0.070. If market sentiment deteriorates, DOGE could potentially revisit its yearly lows near $0.065 to $0.068.
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