![There will be a violent washout of Bitcoin next. Don't buy the bottom too early. It won't stretch quickly in the short term. What you need to do now is to wait patiently for a good buying position, keep your bullets, and don't get hung up on it. When you buy the bottom, you will run out of bullets! Bitcoin market analysis [Issue 725]](/uploads/2026/08/23/cryptocurrencies-news/videos/origin_6a8afd33c749f_image_500_375.webp "There will be a violent washout of Bitcoin next. Don't buy the bottom too early. It won't stretch quickly in the short term. What you need to do now is to wait patiently for a good buying position, keep your bullets, and don't get hung up on it. When you buy the bottom, you will run out of bullets! Bitcoin market analysis [Issue 725]")
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In the past few sessions, Dogecoin price saw a fresh decline below the $0.1050 level like Bitcoin and Ethereum.
Dogecoin price started a fresh decline from well above $0.1100 against the US Dollar. DOGE is down over 10% and struggling to begin a recovery wave.
Dogecoin Price Faces Hurdles
In the past few sessions, Dogecoin price saw a fresh decline below the $0.1050 level like Bitcoin and Ethereum. The price traded below the $0.100 level to enter a short-term bearish zone.
There was a spike below the $0.0980 level. A low was formed at $0.0962 and the price is attempting a recovery wave. It saw a minor increase above the $0.0988 level. The price climbed above the 23.6% Fib retracement level of the downward move from the $0.1064 swing high to the $0.0962 low.
However, Dogecoin price is still trading below the $0.1050 level and the 100-hourly simple moving average. Immediate resistance on the upside is near the $0.1012 level. The next major resistance is near the $0.1025 level.
There is also a key bearish trend line forming with resistance at $0.1025 on the hourly chart of the DOGE/USD pair. The trend line is close to the 50% Fib retracement level of the downward move from the $0.1064 swing high to the $0.0962 low.
A close above the $0.1025 resistance might send the price toward the $0.1088 resistance. Any more gains might send the price toward the $0.1120 level. The next major stop for the bulls might be $0.1250.
More Downsides In DOGE?
If DOGE’s price fails to climb above the $0.1025 level, it could start another decline. Initial support on the downside is near the $0.0962 level. The next major support is near the $0.095 level.
The main support sits at $0.0920. If there is a downside break below the $0.0920 support, the price could decline further. In the stated case, the price might decline toward the $0.0880 level or even $0.0850 in the near term.
Technical Indicators
Hourly MACD – The MACD for DOGE/USD is now losing momentum in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for DOGE/USD is now below the 50 level.
Major Support Levels – $0.0962 and $0.0920.
Major Resistance Levels – $0.1025 and $0.1088.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research！
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