DOGE Price Weakens 14.8% Weekly as Key Support Near $0.1615 Faces Retest Risk

• Dogecoin changes hands at $0.1631, down 14.8% on the week as resistance at $0.1684 continues to hold strong.
• On the monthly chart, an ongoing curved-top pattern is repeating, similar to previous market cycles that preceded sharp declines.
• Reduced trading volume and a narrow range between $0.1615–$0.1684 show weakening momentum and increasing downside risk.
  

Dogecoin is showing fresh weakness on its monthly chart, indicating that further downside could be seen if the current conditions continue to persist. The latest technical setup for the coin shows a familiar characteristic of lower highs and elongated declines, which are usually followed by sharp downward corrections. 

As the general market consolidates, Dogecoin falls well below the key resistance levels. The recent structure only points toward the potential of this being a continuation of its long-term downtrend, a scenario similar to previous market cycles in 2018 and 2022.

Persistent Downtrend Amid Narrow Price Range

DOGE is currently trading at $0.1631, marking a 14.8% decline over the past seven days. The pair also stands at 0.051582 BTC, up slightly by 1.1% during the same period. This minor uptick in its Bitcoin pair has not offset the broader decline against the U.S. dollar. The coin’s immediate support lies near $0.1615, while the resistance is capped at $0.1684, confining Dogecoin within a tight 24-hour range.

Such compression often precedes larger price moves, and the visible pattern on the chart indicates that the asset has continued forming successive lower peaks. Each recovery phase since 2021 has weakened, suggesting that momentum remains in favor of sellers. Notably, price action has also trended below the green curved trajectories, similar to the ones preceding earlier declines in 2018 and 2021.

Technical Structure Mirrors Previous Market Cycles

The long-term chart emphasizes repetitive curved tops, each leading to significant retracements. Each phase has been followed by a clear downward break, typically confirming a continuation of the primary bearish cycle. With the current structure, analysts observe that Dogecoin may be entering the latter half of this pattern once again.

Furthermore, volume analysis supports this outlook, as participation has decreased since the last major high. Reduced volume during recovery periods often reflects fading enthusiasm, limiting upward strength. The pattern’s continuity reinforces the cautious stance traders maintain as the coin hovers near its long-term support level.

Market Outlook and Structural Implications

If the existing pattern holds, the chart implies that Dogecoin may revisit previous historical zones. The action is similar to the previous market corrections in which the price retested the multi-year support before stabilizing. Nevertheless, the vicinity of $0.1615 to $0.1684 is a critical area, and any critical fall below the area might reinforce the bearish trend.

Summatively, the chart shape, monotonic curvature, and compression of the volume are indicative of a phase of downward trend. These technical indicators have been observed keenly by the market participants, with Dogecoin converging close to vital monthly support.