DOGE Price Holds Near $0.156 Support as Short-Term Rebound Takes Shape

⬤ Dogecoin has been under consistent downward pressure, with multiple failed attempts to hold above the $0.165 level. The chart shows a clear downtrend structure where each corrective move has been followed by lower highs. After breaking down from its recent consolidation zone, DOGE has moved back toward the $0.156 support level, where it’s currently trying to stabilize.

⬤ Two key rejection points at $0.16598 and $0.16500 marked short-term turning points before the price retreated again. The consolidation phase between November 14 and 17 provided temporary relief but ultimately failed, pushing the price lower. The support around $0.156 now acts as a key decision point, with the chart suggesting a possible rebound attempt if the level continues to hold.

⬤ DOGE remains within a steady downward-sloping trendline, with consecutive corrections shaping the decline’s structure. Despite persistent weakness, the illustrated projection shows a potential short-term upward move, indicating that momentum may shift if buyers manage to defend the $0.156 zone.

⬤ This price action matters to the broader market because Dogecoin often influences sentiment within the meme-coin sector. A successful rebound from current support could ease selling pressure and spark renewed short-term optimism, while a breakdown below $0.156 would reinforce the downtrend and signal deeper caution across speculative assets.

Source: BitGuru