Dogecoin price continues to weaken as an aggressive downtrend persists, increasing the likelihood of a retest of the untapped yearly low at $0.08.
Summary
– DOGE posts consecutive lower highs and lower lows inside a validated bearish channel.
– Weak bullish momentum at the $0.13 support failed to break structure.
– Liquidity below $0.08 makes a yearly low retest increasingly likely.
Market structure has deteriorated in recent weeks, with Dogecoin firmly locked in a pronounced downtrend. A series of lower highs and lower lows has defined the move, while price trades inside a well-defined descending channel validated by multiple touches on both resistance and support.
The bearish shift followed rejection at high-time-frame resistance near $0.21 and the subsequent loss of the point of control. Sellers regained control, and attempts to rally have been met with swift rejection. Downward moves face minimal resistance, reinforcing a controlled, consistent decline.
Recent stabilization attempts at local support around $0.13 were tested twice but failed to generate enough bullish momentum to reclaim the value area low or break out of the channel. The inability to establish a higher low or reclaim key volume levels confirms continued bearish dominance.
Volume behavior supports the bearish outlook: rallies occur on weak volume, indicating buyers lack conviction, while sell-side pressure remains elevated when price meets dynamic resistance. Untapped liquidity beneath the yearly low at $0.08 makes that level a likely target if downward momentum continues.
Metrics suggesting an early-cycle reset have struggled to gain traction, as the $0.20 barrier caps any meaningful recovery. Until buyers reclaim the value area low and break the channel’s upper boundary, the path of least resistance points lower, with a retest of $0.08 increasingly probable.
