Can Dogecoin reclaim 0.1420 $ or is a new decline expected?

Dogecoin has fallen below 0.14 $ to trade around 0.1348 $ after breaking several support levels, technical indicators showing a descending channel suggesting further losses unless the same coin manages to reclaim the resistance zone at 0.1400 $.

What happened: the same coin breaks a key support

The token dropped below support levels at 0.1450 $ and 0.1420 $, following a broader market pullback that also affected Bitcoin and Ethereum.

Trading data from Kraken's hourly chart shows DOGE forming a descending channel with resistance at 0.1395 $, while the price remains below the 100-hour simple moving average.

The token is consolidating below the 23.6% Fibonacci retracement level of the move from the peak of 0.1539 $ to the trough of 0.1348 $.

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Why it matters: critical levels at stake

The hourly MACD is gaining momentum in bearish territory, even though the RSI remains above 50.

The main resistance lies at 0.1400 $ and 0.1420 $, a close above the latter level potentially pushing prices toward 0.1445 $ or the 50% Fibonacci retracement level. Support levels are at 0.1350 $ and 0.1320 $, with a key floor at 0.1280 $.

A break below 0.1280 $ could drive DOGE toward 0.120 $ or 0.1180 $ in the short term.

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