Bears Target $0.0890 as DOGE Hits $0.1055 Resistance

Dogecoin (DOGE) has seen resistance around $0.1055 and bears are aiming a retest of $0.0890. This barrier is a critical region of interest for traders since it fueled DOGE's recent bullish momentum, as shown on the daily chart. Will bears strike their mark?

Doge Price Action
In the recent month, the DOGE token dropped to $0.08979 before climbing over $0.095. On the daily chart, bulls and bears are fighting and price emotion reflects this.

Dogecoin is now trading at $0.1015, down 1.52% from the previous day and 5.87% over the last month. After this drop, the meme coin's market cap fell to $14,813,560,309, ranking 8th.

Similarly, its 24-hour trading volume fell by over 2.63% to $533,702,505. This suggests DOGE investor sentiment may change when the cryptocurrency sells down.

Bears Eye $0.0890 Support
This meme currency forms a symmetrical triangle on DOGE's TradingView chart, swinging between trend lines. By equalizing buyers and sellers, this pattern of lower highs and higher lows is sometimes misinterpreted as a bullish trend.

The pattern also suggests a near-term breakout, up or down. If short-term negative sentiment persists, additional sellers will likely enter when the price hits $0.0948, the 23.6% Fibonacci third level.

This occurrence may confirm negative momentum, causing a further drop near $0.09. Dogecoin's value might rise if buyers hold above the 50% Fibonacci mark at $0.1016.

A breach toward the $0.1055 psychological barrier might challenge the $0.1096 resistance level. This is supported by the Chaikin Money Flow Index. Dogecoin may rise in the short term due to an infusion of money at 0.08.

#DOGE #CPI_BTC_Watch #DOGSONBINANCE #BNBChainMemecoins $DOGE