DOG struggles to hold above crucial $0.0023 level amid bearish pressure
Dog Coin (DOG) has slipped by nearly 5% in the past 24 hours, trading at $0.00239 as sellers regained control after weeks of sideways action. The decline has pushed DOG back into a critical support zone near $0.0023–$0.0021, an area that previously prevented deeper losses.
Technical Analysis of DOG Price
The daily chart shows that DOG remains under pressure following multiple failed attempts to reclaim the $0.0030 resistance zone. The latest rejection highlights weak buying momentum and strengthens the case for extended consolidation.
According to BITX “DOG’s price action continues to show vulnerability around the mid-$0.0020s. Unless bulls step in with strong volume, we could see a retest of the $0.0021 base.”
The chart also highlights a series of descending patterns that signal ongoing bearish sentiment. While short-lived rallies have emerged from oversold conditions, buyers have struggled to sustain momentum beyond the $0.0034–$0.0038 resistance band.
Trading volume has remained muted compared to earlier breakouts, suggesting that current movements are driven by weak demand rather than aggressive accumulation. If this trend continues, downside pressure could intensify.
According to BITX technical analysts , “DOG must close above $0.0027 to shift sentiment. Otherwise, the risk of a breakdown below $0.0021 remains elevated, which could trigger another leg lower.”
For now, $0.0021 acts as the key support level, while $0.0027 and $0.0034 are the immediate resistance zones. A decisive move below support could open the door toward $0.0018, whereas a sustained rally above $0.0030 would be the first sign of bullish reversal.
With sentiment still fragile, the next few trading sessions will be critical in determining whether DOG stabilizes or faces deeper declines. Investors are closely watching whether buyers can defend the $0.0021 floor to prevent further downside.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.