Dogecoin Price Fails Break Above Macro Pocket Amid Bearish Developments

Dogecoin's price has stalled at $0.28, failing to break through a key resistance level. This rejection has invalidated a predicted bullish breakout, with Dogecoin now struggling to stay above $0.25 support. The cryptocurrency has been in a downtrend for eight weeks, falling from $0.48 and briefly reaching $0.22 on February 3rd. Although it briefly rallied, the recent rejection at $0.28 indicates weak buying momentum. Dogecoin is now likely to trade between $0.22 and $0.28 unless it breaks above the "macro golden pocket" and weekly bull market support band. Bitcoin's price action is crucial for Dogecoin and other altcoins. If Bitcoin rises above $100,000, Dogecoin might be able to break through its resistance. Currently, Bitcoin is trading at $95,208, down 1% in the last 24 hours, while Dogecoin is at $0.251, down 4.65% in the last 24 hours and 24% since the beginning of February. If Dogecoin falls below $0.25, it could further decline to $0.22.