Dogecoin Price Nears Key Breakdown Level Amid Weak Momentum

Dogecoin (DOGE) has recently climbed above $0.16, supported by a short-term ascending trendline. However, this bullish structure is showing signs of weakness. A breakdown below this trendline could trigger sharp selling pressure, potentially driving DOGE below the critical $0.14 support zone.

Currently, DOGE is trading in a tight range, with resistance near $0.167 and minor support just below the rising trendline. A decisive move beneath this structure would signal a bearish shift in momentum, putting the next major support around $0.10 into focus. This level has previously acted as a strong rebound point, but its strength may not hold if bearish pressure intensifies.

On the upside, DOGE must clear key resistance at $0.167 and $0.18 to regain bullish momentum. These zones have consistently rejected price rallies, and the 100- and 200-day EMAs, still trending downward above $0.21, further limit upward potential. Without significant volume, any rally is likely to be short-lived.

Market indicators point to indecision. The Relative Strength Index (RSI) remains neutral, offering no clear directional bias. Meanwhile, low trading volume reflects uncertainty among both bulls and bears. If current conditions persist and the trendline fails, DOGE could face a deeper correction in the coming sessions.

Investors are advised to closely monitor price action around the $0.16 mark and watch for a break of the trendline, as it may determine the next major move for Dogecoin. With volatility expected, staying alert to key support and resistance levels is essential for navigating the evolving market landscape.