Dogecoin price tests $0.085 support as risk zone nears $0.067 after 25% monthly drop
Dogecoin price is trading near $0.086 after a weak stretch, with a 25.25% drop over the past month. The selloff has pushed DOGE into a short-term decision zone, now testing $0.085 support after losing the earlier $0.10–$0.12 range.
Technical levels cited by Ali Charts: DOGE is testing the lower boundary of a descending channel near current levels. If support holds, the recovery path is toward $0.1019 first, then $0.1156. A breakdown would expose the next major supply zone around $0.067, extending the downtrend.
Momentum indicators remain soft. RSI is 21.72 (oversold) and has not turned up yet, while MACD stays bearish (MACD line below signal; negative histogram). Analysts also note DOGE needs to reclaim the $0.10 area to improve the setup.
Derivatives positioning suggests traders are reducing risk. Coinglass shows futures volume down 7.89% to $2.08B and open interest down 4.85% to $1.04B. Meanwhile, options activity increased sharply: options volume +171.59% and options open interest up 42.23% to about 600,650, implying hedging or opportunistic strategies despite weaker spot/futures.
For traders, the next sessions likely hinge on whether Dogecoin price can defend $0.085 and reclaim $0.10. Failure would keep $0.067 in focus.
Bearish
The article frames Dogecoin price as being stuck in a weak, support-testing phase after a steep 25%+ monthly decline. The most actionable bearish catalyst is the chart structure: DOGE is at the lower boundary of a descending channel, where losing $0.085 would likely open the next leg down toward the $0.067 supply zone. Oversold (RSI ~21) does not yet equal reversal; MACD remains bearish and “momentum confirmation” is missing.
On positioning, falling futures open interest alongside declining futures volume typically aligns with reduced leverage and liquidation/position-cut behavior during selloffs—often a short-term pressure signal. Although options volume jumped (which can be used for hedging), the broader derivatives picture still shows traders cutting exposure while waiting for clearer direction.
In similar past episodes, meme-coin bounces frequently fail when support breaks and momentum indicators remain negative; any rebound tends to be sharper only after reclaiming key mid-range levels (here, the $0.10 area). Thus, near-term trading bias stays bearish, while a bullish shift would require DOGE to hold $0.085, then reclaim $0.10 and build momentum back toward $0.1019 and $0.1156.