Dogecoin Dips Below $0.10 Zone Amid Ongoing Bearish Pressure

Dogecoin (DOGE) has been experiencing a decline in its price, dropping below the $0.10 zone and consolidating losses. This downturn may present challenges for the cryptocurrency near the $0.0950 and $0.10 levels.

The DOGE price began to fall after closing below $0.1020, mirroring the decline of Bitcoin and Ethereum. As a result, Dogecoin dropped below its support levels at $0.10 and $0.0950, reaching as low as $0.0909 before recovering slightly.

Currently, the DOGE price is trading below the $0.0950 level and the 100-hourly simple moving average, with a bearish trend line forming at $0.0958 on the hourly chart of the DOGE/USD pair. If there is a recovery wave, immediate resistance for Dogecoin would be near the $0.0925 level or the 50% Fib retracement level of the downward move.