Dogecoin’s price is struggling to regain momentum after a recent drop below $0.270, with key resistance levels preventing a breakout.
Despite an attempted recovery from its $0.2420 low, DOGE remains under pressure, trading below the 100-hourly simple moving average and facing strong resistance at $0.2560 and $0.2600.
Why Is DOGE Struggling?
After failing to sustain gains above $0.2840, Dogecoin followed Bitcoin and Ethereum into a downward move, breaking through important support zones.
It attempted a partial recovery, moving above the 23.6% Fibonacci retracement level, but still lacks bullish momentum to push past resistance.
A bearish trend line at $0.2560 is creating additional hurdles, with the next major resistance at $0.2670. If DOGE manages to break this level, it could surge toward $0.300 or even $0.320 in a strong rally.
What’s Next for DOGE?
If Dogecoin fails to break $0.2600, it could drop further, testing key support at $0.2420 and $0.2350. A break below $0.2350 could send DOGE down to $0.2220 or even $0.2150, prolonging its consolidation phase.
For now, bullish momentum is weak, and DOGE needs a strong volume surge to reclaim key resistance levels. Traders should watch for a potential breakout or another dip before making their next move.
