Dogecoin faced intensified selling pressure and liquidations, with its price struggling below key technical levels. According to analyst data, DOGE fell over 3% to $0.0901, remaining beneath crucial moving averages and facing strong resistance at $0.0932. Market data showed $1.45 million in liquidations, almost entirely from long positions, indicating weak bullish conviction and increasing short-term downside risk.
Dogecoin dropped below key levels as selling pressure intensified across the market, with long traders being forced out rapidly. According to crypto analyst Ace, order flow data shows dominant sell-side activity and failed recovery attempts.
The DOGE price is below all its short and medium-term moving averages, reinforcing the downtrend. The DOGE price was $0.0901, having dropped over 3% in 24 hours with a high level of volume.
Ace stated that “the red delta bubble area has been significantly larger than the other colored bubbles for recent orders,” providing evidence of consistent selling pressures. Sellers are creating barriers at $0.0916 and $0.0932, preventing any extended bull run.
Approximately $1.45 million worth of DOGE was liquidated within the last 24 hours based on CoinGlass data, with 98% from long positions. These events indicate a sharp rise in short-term bearish momentum, with liquidation clusters below the $0.0890 price level.
Dogecoin futures volume decreased nearly 20%, illustrating declining confidence among participants. The long/short ratio for Dogecoin is 0.87, showing that shorts currently dominate market positioning.
Market analyst Bitcoinsensus reported that DOGE continues to form repetitive mini-cycles in its structure. The current structure appears to be in a pullback phase within a larger consolidation pattern.
As long as DOGE remains below $0.0916, bears will maintain control in the short-term. A liquidation-driven decline could occur if the price declines below the $0.0896 support level.
There is a possibility of early strength if DOGE manages to retake $0.0916. However, DOGE will need a breakthrough through the resistance area around $0.0932 for a validated bullish trend reversal.
