DOGE Shows Slight Gains Amid Potential Risks of Further Decline Below Key Support Levels

Key Points

1. DOGE/USD rose slightly by 0.3% in the last 24 hours but faces strong resistance near $0.22.

2. A decisive breakout below the $0.2174 support could trigger a decline to the $0.20-$0.21 zone, signaling a continuation of the downtrend.

3. The hourly chart shows the price hovering near the $0.2174 support, with a daily close below $0.2161 potentially confirming bearish momentum.

4. DOGE/USD faces critical weekly resistance at $0.22, and a close below this level increases downside risk.

5. Market sentiment is cautious, with DOGE unable to sustain above $0.22, reflecting dominance by bearish forces.