Dogecoin (DOGE) Price: Bulls and Bears Battle as Key $0.1500 Support Faces Test

TLDR

Table of Contents

DOGE price has declined after failing to clear the $0.1680 resistance level
Currently trading below $0.1600 and the 100-hourly simple moving average
A symmetrical triangle pattern is forming on the 4-hour chart
A falling wedge breakout has occurred on the 1-hour chart with RSI recovery from oversold zone
Price at $0.1557, up 1.3% in 24 hours, with trading volume at $745 million (down 4.7%)

Dogecoin, the popular meme cryptocurrency, is showing mixed signals as technical analysts observe both bearish pressure and potential recovery patterns. After a recent decline from the $0.1680 zone, DOGE has been consolidating below several key support levels while forming interesting chart patterns that may indicate its next price movement.

DOGE started a fresh decline after failing to push above $0.1680, similar to movements seen in Bitcoin and Ethereum. The downward momentum pushed the price below multiple support levels at $0.1620 and $0.1600.

The bearish pressure continued as DOGE dipped below $0.1550, bringing it dangerously close to the $0.1500 support level. A low was formed at $0.1504 before the price corrected slightly upward.

Currently, Dogecoin is trading below both the $0.1600 level and the 100-hourly simple moving average, which are typically bearish signals in technical analysis. This positioning suggests continued downward pressure in the short term.

Technical chart patterns show a short-term rising channel or a bearish flag forming with support at $0.1540 on the hourly chart. This pattern often precedes further downward movement if the support fails to hold.

Recovery Signals Emerging

Despite the bearish setup, some positive signals are emerging for DOGE holders. A symmetrical triangle has been forming on the 4-hour timeframe since April 8, with the price recently bouncing off the lower trendline.

#Dogecoin is forming a prolonged Symmetrical Triangle 🔥
The longer the consolidation within the triangle, the stronger the momentum builds, leading to a higher $DOGE pump 🚀 pic.twitter.com/AB4jtOLmEV
— Trader Tardigrade (@TATrader_Alan) April 16, 2025

Symmetrical triangles are known for building quiet volatility as price narrows toward the apex. The longer DOGE continues to consolidate inside this triangle, the more momentum could build for an eventual breakout.

On the 1-hour chart, a falling wedge breakout has been identified. This pattern often serves as a bullish reversal indicator and might be one of the first signs that Dogecoin is preparing for a broader trend shift.

The breakout coincided with a recovery from the oversold zone on the Relative Strength Index (RSI), further supporting the case for growing bullish strength in the short term.

At the time of writing, Dogecoin is trading at $0.1557, up by 1.3% in the past 24 hours. However, trading volume is down by 4.7% in the same timeframe, totaling $745 million.

Potential Price Scenarios

For bulls to regain control, DOGE would need to overcome several resistance levels. The immediate resistance is near $0.1580, followed by a major resistance at $0.1600.

A close above $0.1620 could potentially send the price toward $0.1700. Further gains might push DOGE to $0.1720, with the next major target for bulls at $0.1800.

If DOGE fails to climb above $0.1600, another decline might begin. Initial support on the downside is near $0.1540, with major support at $0.1500.

A break below $0.1500 could trigger a more severe decline. In such a scenario, the price might fall toward $0.1420 or even $0.1350 in the near term.

Technical indicators show mixed signals. The hourly MACD (Moving Average Convergence Divergence) is gaining momentum in the bearish zone, while the hourly RSI remains below the 50 level.

The symmetrical triangle’s upper boundary will need to be broken with a strong candlestick close and higher trading volume for the bullish case to fully develop. Currently, the wedge breakout hasn’t been accompanied by strong trading volume, although the price has increased by a few percentage points.

While some traders see early-stage recovery signals, others remain cautious given the lack of bullish confirmation through increased trading volume and decisive breaks above key resistance levels.

For now, DOGE continues to navigate this period of uncertainty as traders watch for clearer signals of its next directional move.

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