Dogecoin Price Analysis: Can $0.19 Support Trigger the Next Rally After 30% Drop?

Key Insights:

• Dogecoin price has declined 30% from its July peak and was trading near the crucial $0.19 support.
• A late‑July 20/200‑day golden cross still argues for a broader uptrend, but cooling RSI and a bearish MACD crossover show momentum has stalled for now.
• Despite macroeconomic uncertainty, major exchanges like Binance and OKX showed the majority of traders going long on DOGE.

Dogecoin (DOGE) price spent most of July in green, but the momentum finally faded over the past two weeks. After reaching a five-month high of nearly $0.28 on July 21, the meme coin fell by almost 30% toward the $0.19 support level at the time of writing.

Many opportunistic traders are now wondering if this support could act as a springboard for the next leg higher, or a crash to $0.15 is imminent.

With macro headlines in the US souring risk appetite across the market, the coming days could prove quite decisive for DOGE’s trajectory.

Can Dogecoin Price Hold the $0.19 Support?

The recent sell‑off in the crypto market has dragged the Dogecoin price down to test support below the 50-day exponential moving average (50 EMA) of $0.206 and the 200-day EMA at $0.207.

However, DOGE bulls managed to hold the price near the $0.19 support level, indicating that dip buyers are still lurking.

If DOGE price settles below that support level on a decisive daily close (ideally on high volumes), Dogecoin bears will aim for the next major support levels at $0.17 and then $0.15.

Those two levels coincide with high liquidity zones and represent a roughly 12% to 24% discount from today’s price.

However, a successful rebound from $0.19 would indicate absorption of supply and open the door to a quick rebound toward the 20 EMA around the $0.22 level.

DOGE Bulls Eye Rebound as Momentum Indicators Reset

Dogecoin price remained on a structural bullish trajectory from a long-term perspective, thanks to the 20-/200-day golden cross that occurred in late July.

A golden cross usually means long-term bulls are still in charge, as long as the price remains above the slower-moving average. Put simply, the primary uptrend for the leading meme coin has not yet been invalidated.

On the other hand, momentum indicators are showing signs of cooling down. The daily Relative Strength Index (RSI) has slipped from an overheated reading above 80 to below 50, edging into bearish territory. That drop signals the market’s momentum has cooled off sharply.

With buyers no longer pushing hard, most traders are now choosing to wait for the next clear signal.

The moving average convergence divergence (MACD) recently flipped bearish, confirming that the recent bull rally has lost momentum.

But if DOGE manages to hold above the key $0.19 support level as technical indicators reset, the most probable scenario is a rebound towards the $0.22–$0.24 range.

A decisive break above the $0.24 resistance could set the stage for a run toward the major psychological barrier at $0.3.

Though reaching that level will likely require fresh positive news for Dogecoin and a more favorable macro environment.

Macro Headwinds Pressure Dogecoin Price, but Traders Stay Optimistic

Beyond technical factors, a few macroeconomic headlines have pressured risk assets this week. President Donald Trump has introduced new import taxes of 10% to 41% on goods coming from Canada, India, Brazil, Taiwan, and several other nations.

This effectively ended the grace period many investors had hoped would be extended.

Moreover, the US Federal Reserve decided to maintain its policy rates steady in its latest FOMC meeting.

And because this stance is expected to persist for the near future, investors have shifted toward relatively safer assets, causing cryptos like DOGE to dip.

Per Coinglass, aggregate Dogecoin futures volume decreased 37% to $4 billion over the past 24 hours. Yet, open interest remained almost unchanged at around $3 billion, implying that traders are holding onto positions, indicating their confidence on Dogecoin price.

What’s worth noting is the long/short ratio on Binance, where long accounts outnumbered shorts 3:1. In fact, OKX shows an even stronger 3.6 reading, reaffirming the underlying bullish sentiment.

Although momentum traders have eased off, bigger players continue to bet on a rebound. If the macro news improves and Dogecoin price holds $0.19 support, the accumulated buying power could drive the price higher.