Dogecoin (DOGE) Price Prediction: Is a Further Fall Below the $0.214 Key Level Possible?

Dogecoin is showing signs of weakness as it sits just above a key price level that could trigger a further fall.

Dogecoin (CRYPTO: DOGE) is showing signs of weakness as it sits just above a key price level that could trigger a further fall.

What Happened: The meme coin has lost most of the strength it built in late April and early May. After briefly pushing higher earlier this month, Dogecoin started to retreat, and now it’s coming under pressure again.

According to RLinda, a crypto analyst on TradingView, Dogecoin is testing a crucial level at $0.214.

“This is a retest of the ‘panic zone’ on lower time frames. A close below this level, especially if it slices through $0.2135, could invite more sellers and clear out longs, setting the stage for a stronger downtrend to follow,” RLinda explained.

This last bullish stretch ended around May 9 to 11, when the price touched the $0.26 area.

“We can view this as the final part of a distribution phase, rolling over from a steeper decline. Since then, the coin has formed lower highs, indicating a correction phase.”

This pattern has also formed a triangle on the 2-hour chart, which is a common sign of weakening momentum.

“If this structure breaks down, it could confirm stronger bearish sentiment. This scenario opens the door to deeper targets around $0.20, and we might even see a continuation toward $0.19 if the selling pressure persists.”

On the other hand, Dogecoin needs to reclaim resistance levels at $0.222 and $0.2307 to avoid this setup.

“Holding above $0.23, ideally with some bullish price action, could cancel out the current bearish tone and suggest that a higher low is forming.”

Without that recovery, the downside remains open. The $0.2145 and $0.2135 levels are the final key supports preventing further declines.

“A close below $0.2135 would likely push the price into a lower trading zone, with limited support until around $0.20126 or $0.19298.”

The next few sessions could decide the direction.

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Another Take: Not all analysts are bearish.

One market watcher, Henry, sees a familiar pattern forming: accumulation, breakout, and then re-accumulation. He argues that if Dogecoin can stay above $0.22, a run toward $0.28 is possible.

“The MACD on the daily chart has flipped bullish again, similar to what happened before earlier rallies. If we manage to stay above the key Fib level, we might see another leg up.”

At the moment, the meme coin is trading around $0.22, showing a slight gain of just over 1% in the past 24 hours.

This small rise isn’t enough to call it a bullish reversal, but it shows that buyers are not completely out of the picture. If this trend holds, there may be a stronger attempt at recovery.

Still, the situation remains fragile. The coin is walking a thin line. A firm bounce from this area could revive bullish hopes, but a slip below could open the gates for further losses.

“If we break below the Fib, the selling pressure might intensify, leading to deeper declines. It’s a crucial level to watch closely. Also, notice that the selling volume has been increasing, indicating stronger bearish momentum.”

RLinda made it clear that without a confirmed move above resistance, the trend is still tilted toward sellers.

“Overall, the trend is still bearish, and sellers are currently in control. To shift the balance, we need to see a decisive break above the Fib level and a recovery in the structure.”

While the broader sentiment is cautious, price action around $0.22 will likely shape the near-term outcome. For now, Dogecoin traders are watching that zone closely, waiting for the market to make its next move.