The Dogecoin BITSTAMP:DOGEUSD price is trading around $0.073, extending its broader downtrend as it continues to lose ground, peaking in 2024. After undergoing 85% correction, the top memecoin is now approaching the multi-year support zone, which has repeatedly acted as a strong demand base in the previous cycles. With this, the crypto is entering a crucial make-or-break zone, while the weekly structure remains decisively bearish. This raises concerns about whether the DOGE price will stabalise here or if another breakdown could push the token into deeper price discovery.
The weekly chart shows DOGE gradually sliding toward its long-standing support zone, a level that has repeatedly attracted buyers since 2021. Besides, the 50/200 day weekly MAs flash massive bearish signals as they are positioned for a bearish crossover. If the price continues to drop, the ‘death cross’ may further squeeze the rally and push the levels close to $0.05.
Adding to the weakness, the MACD is also hovering near a bearish crossover with fading momentum, suggesting that buyers are losing strength as the price approaches support. If the bulls fail to defend the $0.05–$0.06 zone, the risk of a breakdown could increase sharply. On the other hand, holding this range could once again open the door for a rebound toward higher resistance levels.
Dogecoin is now trading at a decisive point, with the $0.05–$0.06 zone acting as the final major support. If bulls manage to defend this region, the first realistic upside target sits near $0.09, where recent local resistance lies. A stronger recovery could then push DOGE toward the $0.13–$0.15 range, which aligns with the 20-week and 100-week moving averages and would likely act as the first major supply zone.
However, if bearish pressure persists and Dogecoin BITSTAMP:DOGEUSD price closes below $0.05, the long-term support structure weakens significantly, opening the possibility of a deeper drop toward $0.035–$0.04.