Dogecoin Technical Indicators Suggest Possible Short-Term Bearish Trend With Potential Price Bounce

Key Points

1. Dogecoin failed to hold the $0.25 support, indicating bearish momentum, with technical indicators like OBV and RSI confirming downward pressure.

2. Bitcoin's price stability between $116.7K and $122K is crucial for Dogecoin's potential rebound; a drop below $116.7K could worsen Dogecoin's decline.

3. Liquidation heatmaps reveal strong support near $0.20, with resistance levels at $0.227 and $0.25, suggesting a possible short-term bounce to $0.23 if Bitcoin holds support.

4. If Dogecoin breaks below $0.195, the next major support is at $0.142, signaling a deeper bearish phase; holding $0.196 could offer a swing trading opportunity.

5. Investors should monitor Bitcoin's performance and Dogecoin's key support/resistance levels for short-term price movements.