Dogecoin Price Drops Below Support, Hints at Short-Term Bearish Pressure

Dogecoin’s price has recently slipped below a key symmetrical triangle support level. The cryptocurrency is trading near $0.1857 as market pressure intensifies. While the coin remains resilient against Bitcoin (+1.5%), recent selling momentum persists, signaling limited short-term confidence and potential for further decline. The current price action indicates a possible shift to bearish trends following a week of continuous downward movement. This is evident in the breaking of the symmetrical triangle formation on the daily chart, a sign that bears are gaining ground. The trading range between $0.177 and $0.1889 demonstrates tightening volatility and cautious market sentiment as traders remain wary. 5.7% price drop this week reinforces the bearish trend. Despite occasional rebounds, selling pressure has remained persistent and suggests limited confidence in short-term prospects. 3rd-party analysts, however, see Dogecoin’s resilience against Bitcoin (+1.5%) as a sign of selective strength despite its weak U.S. dollar pair.