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The price of Dogecoin (DOGE) is trading near $0.156, about 19% in the past month and 11% in the past week. While some big-cap coins are trying to build early recovery signals, Dogecoin’s price is doing the opposite. The trend is still down, and the signals forming on the chart and in the series indicate weakness instead of comfort.
The short-term construction explained why the price of Dogecoin (DOGE) may continue to weaken before developing into any significant demonstration.
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The momentum is weakening as a form of hidden bearish divergence
The most obvious problem appears in the current data. Between November 15 and November 18, the price was recorded Dogecoin Lower high, but the RSI recorded a higher high. The RSI, or relative strength index, measures whether buying or selling pressure is strong. When the RSI rises while the price makes a lower high, it forms a hidden bearish divergence.
Traders take this as a warning to continue, meaning that the current downward trend still has room.
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This weakness becomes even more convincing when seen Long-term DOGE campaign. Glassnode’s Net Holder Position Change indicator shows how coins held for more than 155 days are moving. These portfolios are usually sold only when the conviction breaks.
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On November 9, long-term holders distributed about 62.35 million DOGE. By November 19, this number had grown to 237.20 million DOGE. This represents a sharp increase of almost 175 million DOGE in ten days, a jump of 280%. This reflects a clear increase in long-term selling pressure.
Momentum weakens and strong-handed owners retreat. This combination makes short-term rebounds easy to dissolve and expose downside risks.
The price of Dogecoin continues to decline, unless key levels are crossed
The price of Dogecoin continues the downward trend towards its trend structure, with the next support coming from the trend-based projection levels. Sitting at the first important level at $0.150, which has repeatedly acted as a short-term floor. Losing this support could push the price towards $0.140 and even $0.127 if broader market sentiment weakens.
On the upside, Dogecoin price needs to recover $0.163 to stop the bearish pattern. A clear move above $0.163 could change the momentum enough to target $0.186, the next major resistance on the chart. Until that happens, the downtrend remains intact, and any rebound carries the risk of fading.
Now, the big picture remains simple. The trend is negative, momentum favors sellers, and long-term holders are still distributing. Unless Dogecoin begins to reclaim key levels, DOGE’s price trend will likely continue – but not in the direction long-term traders are hoping for.
