Dogecoin (DOGE) Price Drops Below $0.17 as Bears Maintain Control

The popular meme cryptocurrency has been struggling to maintain its price levels in recent weeks. Currently trading at around $0.17, DOGE faces mounting

Dogecoin (CRYPTO: DOGE) struggled to recover on Thursday as the meme coin faced persistent selling pressure.

What Happened: Dogecoin, the popular cryptocurrency, remained in a bearish trend in the short term as it failed to break through the $0.175 level and the 100-hourly Simple Moving Average (SMA). This positioning indicated bearish control over the market.

Dogecoin was trading at $0.16644 at press time Thursday morning, according to Benzinga Pro.

The cryptocurrency's price action was also constrained by a bearish trend line, which had been providing resistance since March 14, offering a significant hurdle for any potential recovery attempts in the near future.

As the cryptocurrency slid below the $0.175 support, it triggered a sell-off that saw Dogecoin dip below several key support zones, including $0.188 and $0.182.

Furthermore, the MACD (Moving Average Convergence Divergence) indicator in the hourly chart was showing increasing momentum in the bearish zone, while the Relative Strength Index (RSI) remained below the 50 level, indicating bearish sentiment.

Key Levels To Watch:

Dogecoin had immediate resistance at the $0.17 level. If the bulls managed to push the price above this point, they might encounter resistance at the $0.173 level.

The next major resistance for Dogecoin was located at the $0.177 level. A successful close above this level could potentially send the meme coin towards the $0.185 resistance zone.

On the downside, Dogecoin had initial support at the $0.1635 level. Below that, the $0.162 level served as a critical support zone that the bulls needed to defend.

If Dogecoin failed to hold above the $0.162 support, the next major support level was placed at $0.155. A breakdown below this mark could accelerate the decline towards the $0.132 or even $0.12 support levels.

Long-Term Outlook:Some analysts remained optimistic about Dogecoin's long-term prospects despite the current bearish trend. According to crypto analyst Moein Haddadian, Dogecoin had broken out of a descending trendline, potentially indicating weakening selling pressure.

For a strong recovery to establish, Dogecoin would need to rise above the $0.25 price point. Breaking this level could confirm bullish dominance and drive the price toward the $0.30 target.

Also Read: Dogecoin Remains Meme King Despite Troubling Price Action

Dogecoin has been following cyclical patterns throughout its history, and some traders believe the current price action is similar to past patterns that led to explosive growth phases.

Technical indicators presented a mixed picture. A TD Sequential buy signal appeared on the weekly charts, hinting at a potential reversal according to analyst Ali Martinez.

Dogecoin ( $doge ) has caught a buy signal from the TD Sequential on the weekly chart, signaling a potential rebound!

As we can see, the cryptocurrency has been in a bearish trend recently, but this signal suggests that the selling pressure may be decreasing.

The chart by @HOMMYS__ on X.

— Ali (@ali_charts) March 30, 2025Rising anxiety among Dogecoin holders could signal incoming volatility. This uncertainty has left investors questioning whether DOGE would test lower supports or manage to reverse its downtrend.

Such concerns stemmed from the fact that Dogecoin failed to break through the $0.20 resistance zone and instead triggered a sell-off.

This downturn saw the cryptocurrency dip below several key support zones, including $0.188 and $0.182, before the bears ultimately pushed the price below the $0.175 support level.

The drop continued until Dogecoin reached nearly $0.162, forming a recent low at $0.1628 before starting to consolidate.

The cryptocurrency's price action was also constrained by a bearish trend line, which had been providing resistance since March 14, offering a significant hurdle for any potential recovery attempts in the near future.

Dogecoin was trading at $0.16644 at press time Thursday morning, according to Benzinga Pro.

The cryptocurrency remained below both the $0.175 level and the 100-hourly SMA, indicating bearish control over the market in the short term.

Furthermore, the MACD (Moving Average Convergence Divergence) indicator in the hourly chart was showing increasing momentum in the bearish zone, while the Relative Strength Index (RSI) remained below the 50 level, indicating bearish sentiment.