Dogecoin Drops 5.8% on BTC Dip Below $112K, Eyes $0.21
Dogecoin slipped 5.8% after Bitcoin fell below $112,000, intensifying bearish momentum across altcoins. DOGE failed to hold the $0.224 support (75% level of its long-term $0.142–$0.25 range) and now faces a likely retest of the $0.20–$0.21 support cluster, with $0.207 highlighted by the liquidity heatmap as the next critical zone. Momentum indicators (RSI and on-balance volume) point to increasing selling pressure, while a sweep of $0.24 confirms recent bearish reversal. Traders should monitor Bitcoin’s price action—historical dips below $112K typically drag altcoins lower—and watch for any reclaim of $0.224 and the $0.241 resistance to shift momentum back in favor of bulls. Failure to hold $0.207–$0.21 could open a deeper decline toward the long-term floor near $0.142. Key levels: support at $0.20–$0.21, resistance at $0.224 and $0.241. Observing RSI, OBV, and liquidity clusters can help craft precise entry and exit points.
Bearish
Short-term bearish momentum is evident as Dogecoin fell 5.8% following Bitcoin’s dip below $112,000. The failure to hold key support at $0.224 and the sweep of $0.24 liquidity zone suggest increasing selling pressure. Historical patterns show that BTC declines below this threshold often lead to further altcoin corrections. Momentum indicators (RSI, OBV) confirm distribution. In the near term, the $0.20–$0.21 cluster is critical; a break below could trigger a deeper correction toward $0.142. Unless DOGE reclaims $0.224 and surpasses $0.241, bullish reversal remains unlikely. This scenario mirrors past instances where altcoins underperformed BTC in downtrends, reinforcing a cautious trading stance.