Dogecoin (DOGE) Eyes $0.127 Support After Classic Bull-Bear Cycle

• DOGE is currently in a corrective phase, trading near $0.12, with critical support at this level.
• Weekly and daily charts indicate strong bearish momentum, with the price below key EMAs and MACD trending negative.
• Any recovery faces heavy resistance between $0.15–$0.18; a sustained reversal would require strong bullish confirmation.

Dogecoin (DOGE) has displayed textbook market patterns over the past year, highlighting accumulation, expansion, distribution, and liquidation phases.

According to BitGuru’s chart analysis, DOGE formed a clean “Bullish Cup” early in the cycle, showing buyers absorbing selling pressure at progressively higher lows.

This rounded base suggested that long-term participants were steadily accumulating, preparing for a bullish breakout. After the cup completed, DOGE broke above the rim, supported by expanding candlestick volumes, confirming a strong upward trend.

Dogecoin remained in a peaceful state known as “Bullish Beauty” throughout the month of August and September. The price was range-bound with higher lows, which indicated that, despite the pauses, market control was in the hands of the buyers.

Also, support levels were intact, and price volatility decreased, and before long, it made new highs.

Also Read: Dogecoin (DOGE) Price Structure Points to $0.75 After +480% Rally

Dogecoin Bullish Beauty Phase Shows Trend Strength

However, there was a major change in October. A sudden vertical fall indicated a change from the distribution phase to the liquidation phase, with the smart money possibly selling and the retail traders forced to sell.

The fall broke through a number of support areas at once with a change from a bullish to a bearish sentiment.

“Liquidity sweep” territory, which DOGE entered following the crash, showed a gradual downtrend with lower highs and lower lows, including absorbing remaining sell-side liquidity with support at $0.127, which could be a launchpad for a relief rally if purchases are made.

Weekly Chart Confirms Bearish Pressure

As indicated on the one-week DOGE/USD chart on TradingView, DOGE is currently in a larger retracement. The price has retreated to around $0.12 following a high level in late 2024.

DOGE is currently below the 20-Week, 50-Week, and 100-Week moving averages, with the 200-Week moving average at around $0.155 acting as support above.

The set of moving averages is declining, together with a negative MACD and an increasing negative histogram, indicating that bearish momentum is intact.

The RSI is approximately 35, which reflects weakness but not extreme oversold conditions. This implies that even more downward movement might be seen in DOGE prices relative to a possible bounce.

The critical region to watch is at $0.12; if breached on a weekly closing price, a possible decline to $0.10 or even $0.085-$0.09 might be seen.

Resistance will be at $0.15-$0.18 in the event of an upward movement. A strong closing above $0.18 will be required to indicate a reversal in price.

Also Read: Dogecoin (DOGE) Faces Brutal Test: Jan 17 Target $0.144