February 10 News, Dogecoin (DOGE) continues its weak consolidation, currently trading around $0.095, down 1.46% intraday, with weekly decline expanding to 8.03%. After rising to $0.15, DOGE entered a clear downtrend, with the lowest point touching $0.08. It then experienced a slight rebound, but the overall structure remains bearish.
Some crypto analysts believe that DOGE may be approaching the lower boundary of its long-term upward channel. This view is based on historical cycles: in 2017, DOGE surged approximately 9,200% within 300 days, and the previous cycle saw even higher gains within 154 days. If the price remains below $0.10, it could indicate the formation of a phase bottom, with a subsequent retest of the $0.30 region possible.
However, on-chain and market data present more cautious signals. The “Supply and Demand Zone” model shows significant selling pressure around $0.09, with sell-offs concentrated in that area. The buy-sell dominance indicator indicates that sellers’ trading volume is about 5.4 billion coins, significantly higher than buyers’ 2.8 billion coins, and buyers have been at a disadvantage for several days.
Momentum indicators are also weak. DOGE’s RSI has fallen to 31, approaching the bearish zone, and the Directional Movement Index is only 6.3, indicating insufficient trend strength. Analyst VisionPulsed pointed out that optimism on social media is still fermenting, which often means true panic has not yet set in, and the price could have further room to fall. He predicts that if a rapid decline occurs, DOGE could test the $0.05 level.
From a longer-term perspective, VisionPulsed believes that a genuine bullish reversal may not occur until after 2027, and the current phase is more like a correction within a larger trend. In the short term, $0.10 remains a resistance level, while around $0.09 continues to be the core area of buyer-seller battles. For investors watching Dogecoin price forecasts, the current market still warrants caution due to the risk of increased volatility.
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