Dogecoin Sellers Dominate as DOGE Still Struggles Below $0.20

Dogecoin (DOGE) has been hit hard by selling pressure, dropping 15% in the past week as it struggles to find support. Technical indicators continue to show a strong bearish trend.

If the decline persists, DOGE could soon test support at $0.142, and a break below this level could push it under $0.14 for the first time since October 2024. However, if meme coin hype resurfaces and buying pressure returns, DOGE could attempt a recovery, with key resistance levels at $0.19 and $0.22 standing in the way of a potential trend reversal.

DOGE Ichimoku Cloud Paints A Bearish Picture

The Dogecoin Ichimoku Cloud chart shows a strong bearish setup. The price is trading below both the blue Tenkan-sen (conversion line) and the red Kijun-sen (baseline).

This positioning indicates that short-term momentum remains negative as DOGE struggles to break above these resistance levels.

The Ichimoku cloud (Kumo) ahead is red, reinforcing the ongoing bearish sentiment, while the cloud itself is positioned well above the current price.

DOGE Ichimoku Cloud. Source: TradingView.

The downward slope of the Tenkan-sen and Kijun-sen further confirms the strength of the bearish trend, making any recovery attempts fragile unless DOGE can reclaim these lines.

A move into the cloud would indicate a potential transition to a neutral phase. However, for now, the trend remains clearly bearish.

Until the price breaks above the Tenkan-sen and Kijun-sen or the cloud turns green, any upside moves could be temporary pullbacks within a broader downtrend.

If selling pressure persists, DOGE could continue its decline, potentially testing lower support levels in the coming sessions.

Dogecoin DMI Shows Sellers Are Extensively In Control

Dogecoin’s Directional Movement Index (DMI) chart shows that its Average Directional Index (ADX) is currently at 39.1, a sharp increase from 17.1 just two days ago.

The ADX measures trend strength, with values above 25 indicating a strong trend and those below 20 suggesting weak or ranging market conditions.

The rapid rise in ADX confirms that Dogecoin’s ongoing downtrend is intensifying, signaling that sellers remain firmly in control. As ADX moves higher, it reinforces the idea that the current bearish trend is gaining momentum.

DOGE DMI. Source: TradingView.

The -DI (negative directional index) has surged to 37, up from 28.91 one day ago, while the +DI (positive directional index) has declined to 12.67 from 14.83.

This widening gap between the -DI and +DI indicates that selling pressure significantly outweighs buying interest. With -DI continuing to rise and +DI trending downward, DOGE’s price is likely to remain under pressure unless a strong reversal in momentum occurs.

The +DI would need to start rising while the -DI declines for any signs of a potential recovery. For now, the dominant trend remains bearish, and DOGE may continue testing lower support levels.

Dogecoin Will Have a Hard Time To Reclaim $0.20 Soon

DOGE price has dropped 18% in the last seven days, reinforcing its bearish trend as selling pressure continues to dominate.

If this downtrend persists, DOGE could soon test the key support level at $0.142, a critical price floor that could determine whether further declines are likely. A break below this level would allow Dogecoin to drop below $0.14 for the first time since October 2024, further solidifying bearish sentiment.

Given the current price structure, the absence of strong buying pressure suggests that the path of least resistance remains to the downside unless momentum shifts.

DOGE Price Analysis. Source: TradingView.

However, if meme coin hype returns and buying pressure increases, DOGE could break out of its bearish structure and reclaim key resistance levels.

The first major resistance to watch would be at $0.19. If DOGE successfully clears this level, it could signal the start of a broader recovery. A sustained uptrend could then push the price toward $0.22, and if bullish momentum strengthens further, DOGE could rise to $0.24.

For this scenario to materialize, DOGE would need to see an influx of buying volume and a shift in trend indicators, signaling a potential reversal from its current downward trajectory.