Dogecoin Slips Below Key Support of $0.129 Amid Increased Selling Pressure
Dogecoin (DOGE) recently broke below its key support level near $0.129, accompanied by higher volume which confirmed the breakdown from its previous trading range. The price movement over 24 hours showed a decline of about 0.3%, dropping from $0.1309 to $0.1305, with intraday volatility reaching approximately 4%.
An early rebound attempt to around $0.134 failed as selling pressure re-emerged, establishing $0.134 as a near-term resistance level. The breakdown occurred after 02:00 UTC, with the price sliding from approximately $0.132 toward $0.130 due to concentrated selling activity, effectively flipping the former support level into resistance.
Currently, Dogecoin's price trades below its immediate moving averages with momentum trends pointing lower and no signs of bullish divergence. The $0.129 to $0.130 zone, which previously acted as support, must be reclaimed to neutralize the bearish setup. The first downside level to watch is $0.129; a sustained break below this level could pave the way for further weakness.
During the session, volume surged amid the breakdown, with Dogecoin's price oscillating between roughly $0.134 and $0.130. Late selling pushed the price below $0.129 before stabilizing near $0.130.
