Dogecoin price remains under pressure: sellers still in control

The Dogecoin price gives little reason for optimism. At the time of writing, DOGE stands at $0,08. a decline of 3% in the past 24 hours. Technical analysts see that sellers are still in control and that an attempt to reclaim a key support level has failed once again.

Dogecoin is available at OKX and Bybit.

Price Attempt Fails at Resistance

The chart on the 12-hour timeframe clearly shows that the Dogecoin price has been making multiple attempts over the past few weeks to reclaim a crucial support zone. Each time the price approaches this level, a rejection follows and the price falls back again. This pattern repeats itself, which is a clear sign that there is no real buyer dominance at this point.

Crypto analyst AltCryptoGems states that the pattern is crystal clear: the price is trying to regain a key zone, but instead of turning that level into support, it repeatedly experiences it as resistance. That says a lot about the current market dynamics around DOGE.

Broader Altcoin Market Also Under Pressure

Dogecoin is not alone in this. Many similar altcoins show a comparable picture, with selling pressure dominating. Earlier it became clear that the selling pressure on altcoins reached a five-year extreme on spot markets, which puts the current situation in context.

As long as there is no clear trend reversal and the price does not manage to break through the resistance zone definitively, the picture for Dogecoin remains bearish. Traders and investors will closely monitor the charts in the coming days to see if a price turnaround occurs after all.