Dogecoin Drops 8% Amid Bearish Signals, Long-Term Bullish Outlook Intact

Dogecoin (DOGE) is currently trading around $0.155, having fallen from recent highs near $0.168. The cryptocurrency is showing mixed signals, with analysts divided on its near-term direction. The price has declined below several key support levels, including $0.162 and $0.160, positioning DOGE below the 100-hourly simple moving average, which is typically considered a bearish indicator.

Short-term charts reveal a rising channel or bearish flag formation with support at $0.154. This pattern often precedes further downside movement if key support levels fail to hold. On the 4-hour chart, a symmetrical triangle has been forming since April 8, with the price gradually narrowing toward the apex of this structure. This triangle pattern is known for building quiet momentum before an eventual breakout. The longer DOGE consolidates inside this formation, the stronger the potential move when it finally breaks in either direction.

On the 1-hour timeframe, analysts have identified a falling wedge breakout coinciding with a recovery from oversold conditions according to the Relative Strength Index (RSI). This combination is often viewed as a bullish reversal signal. However, trading volume remains a concern, with limited conviction behind recent price movements.

Despite short-term pressures, some analysts maintain a bullish long-term view for Dogecoin. Technical analyst Chris plots an expanding rising channel on the weekly chart that has been guiding price action since October 2023, when DOGE traded at lows of $0.056. This structure has produced a sequence of higher highs, reaching approximately $0.229 in March 2024 and $0.484 in December 2024. The pattern has also created higher lows around $0.077 in February 2024 and $0.08 in early August 2024.

The latest pullback has retested the channel’s lower rail at $0.13, where the weekly Stochastic-RSI has begun to curl upward from single-digit territory. The Ichimoku cloud is turning supportive above $0.22. From this technical confluence, some projections suggest a potential parabolic trajectory that could send DOGE toward the $1.00-$1.10 range by late summer 2025. Another analyst, Olivier, focuses on the daily chart, identifying a descending regression channel that has contained price action since the November peak at $0.484. His analysis points to a large rounded accumulation base projected to complete between May 5 and June 29, 2025.

For the uptrend to resume, DOGE would need to print a new higher low followed by a higher high. The key resistance level to watch is $0.2175, where DOGE could break out of the descending channel. Above that, $0.229 represents the local high from March 2024. In the immediate term, several critical price levels will determine DOGE’s direction. Support currently sits at $0.154, with additional support at $0.152 and the psychologically important $0.150 level. If these supports fail to hold, further decline toward $0.142 or even $0.135 could follow. The main support level sits at $0.150, and a break below could accelerate the downside move.

On the upside, the first major resistance appears at $0.160, followed by $0.162. A successful break above these levels could send the price toward $0.170, with the next major target for bulls at $0.180. The hourly MACD indicator is gaining momentum in the bearish zone, while the RSI remains below the 50 level, suggesting bears still have control in the short term. The convergence of these technical patterns and indicators suggests DOGE is at a critical juncture. While the short-term outlook appears challenging, longer-term technical structures remain intact for a potential upside move if key resistance levels can be overcome.

For traders and investors, the coming weeks will be crucial as DOGE tests these important technical levels that could determine its path for the remainder of 2025. Some analysts predict DOGE could reach $1 by summer 2025 if it breaks above key resistance levels. Current support levels are at $0.154, $0.152, and $0.150, while resistance sits at $0.160 and $0.162. The convergence of these technical patterns and indicators suggests DOGE is at a critical juncture. While the short-term outlook appears challenging, longer-term technical structures remain intact for a potential upside move if key resistance levels can be overcome.