Important points:
Dogecoin price has dropped by 20% and is trading below the $0.10 support level.
DOGE is testing a significant bullish trend line support at $0.0980 on the weekly chart.
Bulls must protect a weekly close below $0.0980 to prevent further losses.


Dogecoin Price Prediction: Bear Market Analysis
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New Delhi (CoinChapter.com) — DOGE price cut most of its yearly gains and is trading below $0.10. Dogecoin must stay above $0.0980 to start a recovery wave.
Dogecoin price turns red
In our recent DOGE price prediction, we discussed why Dogecoin faces
A bumpy road to recovery
The price attempted a recovery wave, but the bears remained active and prevented the price from rising above $0.1220. As a result, the price posted a fresh decline below the $0.1150 support.
In the past two to three trading days,
Bitcoin
, Ethereum and most major alternative coins have experienced strong bearish reactions. BTC fell below $60,000,
ETH
The break of the $3,000 support level saw BNB fall below $500. This also triggered a bearish move in Dogecoin, causing the price to fall below the $0.1050 support level.


Dogecoin price weekly chart | Data source: DOGE/USD, TradingView.com
The price declined below the 61.81 Fib retracement level of the major rise from the $0.0568 swing low to $0.2286 high. Dogecoin is currently struggling to hold the critical support area of $0.0980.
It is also testing a significant bullish trend line support at $0.0980 on the weekly chart and the 76.4% Fib retracement level of the main rise from the $0.0568 swing low to $0.2286 high.
If DOGE