The post Dogecoin Price Tests $0.12 Support as Selling Pressure Mounts: What Comes Next? appeared first on Coinpedia Fintech News
Dogecoin (DOGE) is back under pressure as the broader market faces bearishness today. With Dogecoin price now slipping towards its key support zone of $0.1200, market participants are looking in dilemma whether DOGE price defends the zone or prints a fresh breakdown ahead.
Why Dogecoin is Under Pressure Now
The recent decline in DOGE did not come out of nowhere. After an initial uptick from ETF-related news, buying interest faded as inflows failed to translate into sustained demand. This led to profit taking and renewed selling pressure, particularly as DOGE price slipped to the make or break zone of $0.1200.
At the same time, the broader crypto market showed signs of hesitation and under bearish grip. As momentum cooled, DOGE became vulnerable to downside moves, with sellers regaining control.
Dogecoin Price Retests Demand Zone: What’s Next
Dogecoin’s price action is now centered around a critical structural retest, as bulls have lost momentum. After weeks of forming lower highs, DOGE continues to trade within a well-defined descending channel, with price currently facing trendline resistance. This zone, roughly aligned with $0.13-$0.14, has repeatedly capped upside attempts, reinforcing bearish control in the short-term.
More importantly, DOGE price is holding the demand zone around $0.12, underlining a make or break moment. The short-term moving averages remain clustered, highlighting indecision rather than trend acceleration.
If DOGE price fails to settle around the demand zone of $0.12, more downside could be seen toward $0.10-$0.11 ahead. While, in case of bounce from the support region, it may retest the immediate hurdles of $0.1320 followed by $0.1400 in the coming sessions.
Final Thoughts
Dogecoin sits at a pivotal point where weak headlines collide with stabilizing price behaviour. While bearish structure still dominates, fading selling pressure and tight consolidation suggest the next move may be defined by structure rather than sentiment. For now, DOGE marks an alert and the reaction around $0.12 could set the tone ahead.
Source: https://coinpedia.org/price-analysis/dogecoin-price-tests-0-12-support-as-selling-pressure-mounts-what-comes-next/
