The post Weekly Support at $0.18 Faces Test After 14% Decline appeared on BitcoinEthereumNews.com.

TLDR Dogecoin is trading around $0.19, having fallen nearly 14% in the previous week DOGE closed below its 200-day EMA at $0.21, indicating bearish momentum Critical support zone exists between $0.187-$0.19; breaking below could trigger further decline RSI reading of 39 and bearish MACD crossover signal potential continued downward pressure Bulls need to reclaim $0.195 and push toward $0.215 to restore bullish momentum Dogecoin, the popular meme cryptocurrency, is showing signs of weakening momentum as it trades around $0.19 following a significant drop last week. The digital asset has fallen nearly 14% over the previous week, putting it in a precarious position as key support levels come under pressure. The price action for DOGE has been notably weak compared to Bitcoin, which remains close to its all-time highs. This divergence has caught the attention of crypto analysts who are monitoring several critical price levels. On Thursday, Dogecoin closed below its 200-day Exponential Moving Average (EMA) at $0.21, which is considered a bearish signal by technical analysts. The following day saw an additional 10% decline, pushing the price toward its weekly support level at $0.18. Technical indicators are reinforcing the bearish outlook. The Relative Strength Index (RSI) on the daily chart reads 39, below the neutral level of 50, suggesting that sellers maintain control of the market. Additionally, the Moving Average Convergence Divergence (MACD) indicator has displayed a bearish crossover, which typically signals further downward momentum ahead. Support Zones Under Pressure Analysts have identified the $0.187-$0.19 range as a crucial support zone for Dogecoin. This area represents the difference between a temporary correction and a more substantial breakdown in price. The price structure still shows some positive elements, with DOGE maintaining what analysts describe as a “higher low” on the ascending channel support. As long as the price stays above the…

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Filed under: News - @ June 2, 2025 9:29 am