Dogecoin Price Threatens Breakdown After Two H4 Retests

Dogecoin's price is currently around $0.25, fluctuating between $0.24 and $0.27. It has twice retested a key support level on the 4-hour chart and risks falling below $0.24. If this happens, a significant price drop is possible. One analyst suggests Dogecoin will remain range-bound unless it breaks above $0.285 or below $0.239. Another analyst points out Dogecoin's failure to regain a crucial support level and warns a Bitcoin decline could further drag down Dogecoin. Despite this, some analysts predict a short-term rebound because Dogecoin's Relative Strength Index (RSI) indicates it's oversold, potentially pushing the price back to $0.3 and even $0.36. A long-term bullish outlook is also suggested, based on repeating historical price patterns.