Bearish Dogecoin News: DOGE Price Drops 7% This Week – Will $0.1500 Support Hold or Break Next?

Dogecoin (DOGE) is back under the microscope as bearish pressure intensifies following a failed attempt to break above $0.1680 earlier this week. Currently trading near $0.1550, DOGE price has slipped below key support zones, triggering renewed concern among traders. While the meme coin showed resilience earlier in the month, a developing bearish flag pattern and weak technical momentum suggest further losses may be on the horizon. Analysts warn that if support near $0.1500 gives way, DOGE could tumble toward the $0.1400 range or even lower.

DOGE Price Breaks Key Levels: Bears Take Control

Dogecoin has been trading with a distinctly bearish tone after bulls failed to sustain the push beyond $0.1680. The DOGE price slipped below multiple support levels – $0.1620, $0.1600, and, more recently, $0.1550 – highlighting increased selling activity. The current trading structure shows DOGE consolidating beneath the 100-hour simple moving average, a bearish signal that indicates downward momentum is building.

Technical indicators confirm the trend. The hourly MACD is gaining strength in the red zone, and the RSI has slipped below 50, suggesting bearish sentiment is dominant. The DOGE price is forming a bearish flag or rising channel, typically a continuation pattern that could lead to another wave down if support is broken. Immediate resistance is at $0.1580, followed by stronger resistance at $0.1600 – the 50% Fibonacci retracement of the $0.1694 to $0.1504 decline.

Bearish Flag Forming: Breakdown or Bounce?

A short-term rising channel is formed on the chart as the DOGE price closes over $0.1540, a crucial short-term support. The next crucial line of defense, if this level fails, is $0.1520, followed by $0.1500 for psychological support. A clear break below this area might signal the start of more declines. Analysts predict that if the overall market attitude continues to be uncertain, a breakdown might push DOGE closer to $0.1420 or possibly $0.1350 in the near future.

Chart 1: Dogecoin/USD chart, published on TradingView, April 18, 2025

However, a surprise bounce isn’t off the table. DOGE may target the $0.1620 barrier level if it rises back above $0.1600. Bullish momentum might be triggered by a break and closing above this level, with possible upside targets around $0.1700 and $0.1720. However, this would necessitate a change in mood and volume, both of which are now negative.

The bigger cryptocurrency market rising volatility is also a result of macroeconomic pressures and Bitcoin’s fall from recent highs. This makes short-term projections more difficult than typical for meme coins like Dogecoin, which frequently ride sentiment waves.

DOGE at a Crossroads: Bounce Back or Bearish Breakdown Ahead?

Dogecoin’s short-term trajectory hinges on its ability to hold key support near $0.1500. While a bullish recovery is possible, the setup leans toward a bearish continuation unless DOGE can break above $0.1600 with conviction. Traders are advised to watch volume trends and RSI levels closely. A spike in buying pressure could flip sentiment, but for now, bears appear to be in control.

What is Next for Dogecoin: Will DOGE Hold the Line at $0.1500?

What is Next for Dogecoin? Technical indicators suggest that DOGE may be at a crossroads. Given the approaching bearish flag and waning support, the upcoming sessions may be pivotal. DOGE may experience a more significant correction toward $0.1420 or maybe $0.1350 if it breaks below $0.1500. However, it appears to be an uphill battle at the moment, but a rally above $0.1600 could disprove the bearish thesis. The meme coin is currently in a delicate state.

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