DOGE Price Prediction: Weak RSI and Negative Momentum Signal Further Downside
Dogecoin’s daily chart continues to lean toward a bearish structure as price action struggles to regain upward momentum.
Recent sessions have closed progressively lower, keeping DOGE beneath both its short-term and medium-term trend averages. This positioning typically signals that buyers are losing control of immediate direction, while sellers remain comfortable dictating the pace.
Trading consistently under the 9-day EMA suggests that short-term sentiment is still negative. The 20-day EMA trending above the price adds to this pressure, reinforcing a broader loss of strength and warning that any rebounds may face resistance before gaining traction. Momentum indicators support this narrative: the MACD remains in negative territory, showing persistent bearish momentum, while the RSI drifting in the high-30s reflects a market where buying interest is present but not forceful enough to reverse the current trend.
DOGE Support Zone Under Pressure
The Dogecoin price is hovering just above a cluster of key supports between $0.12240 and $0.12210, followed by a deeper level at $0.11747. This area forms the final defensive structure before a more substantial correction could unfold.
Daily chart for DOGE/USDT (Source: TradingView)
Order-book liquidity highlights the importance of these levels. A strong bid wall at $0.12240 currently helps stabilize the price, but a breach would likely expose the market to a quick drop toward $0.12000, where another significant bid wall sits. If that wall fails, the path opens to the major defensive zone at $0.11500—a level backed by more than eight million units in buy orders. Losing this foundation could accelerate a decline of over 6%, marking a meaningful structural breakdown for DOGE.
Resistance Levels Could Cap Rebounds
On the upside, DOGE faces immediate friction near $0.12339–$0.12354, where two ask walls cluster tightly. Clearing these would allow only modest upside of around 0.3–0.4%, but doing so is necessary for buyers to signal early strength.
Above these levels, the next challenge emerges at $0.12650, where another large ask wall could halt momentum. A successful break would open a clearer path to $0.12806, followed by a more significant barrier near $0.13258. These higher zones represent natural exit points for short-term long traders and potential pivot areas for bears looking to re-enter positions.
Long-Side Trade Considerations
Long traders may view the $0.12210–$0.12240 region as a potential accumulation area, but only if momentum shows signs of stabilizing. Ideally, traders would look for the short-term trend to flatten or for early bullish divergences to appear before taking on exposure. A more confident long entry would require a clean breakout above the ask-wall cluster at $0.12350, signaling that buyers are retaking control of near-term order flow.
Upside targets for long positions include $0.12650, $0.12806, and eventually $0.13258. Each represents an area where selling pressure historically strengthens and where profit-taking may be prudent.
Short-Side Trade Considerations
Short traders remain in a favorable position as long as DOGE stays below the 9-day EMA and rejects from major resistance. A breakdown below $0.12210, especially if the surrounding bid walls collapse, would confirm continued weakness and could trigger extended downside toward $0.12000, followed by $0.11747 as a more distant take-profit zone.
Momentum indicators support this posture, with the MACD firmly negative and the RSI trending lower—not yet oversold, meaning room for further decline remains.
Overall Market Outlook
The DOGE daily chart currently leans bearish, with sellers maintaining control of trend direction and liquidity zones suggesting limited upward movement until key resistance areas are cleared. Bulls still have opportunities, but they must reclaim short-term trend levels to shift the narrative meaningfully.
Disclaimer: The information presented in this article is for informational and educational purposes only. It does not constitute financial advice. Ecoinimist is not responsible for any losses incurred. Readers should exercise caution before acting on this content.
