Dogecoin's recent trend has been somewhat weak, mostly oscillating narrowly around $0.137, with a clear lack of upward momentum. From a price and trading perspective, Dogecoin is currently around $0.1371, showing little change compared to the previous hour, with a 24-hour decline of only 0.44%. However, there's a problem: trading volume over the past few hours has been continuously shrinking, and surprisingly, the price has been slightly rising. This constitutes a classic divergence between volume and price — in other words, the rally lacks supporting trading volume, indicating a lack of momentum.

From a technical standpoint, it's even more interesting. On the hourly chart, a death cross has appeared previously, with the 50-period moving average crossing below the 200-period moving average, which is a strongly bearish signal. Coupled with multiple timeframes now forming resistance resonance, breaking through key resistance levels above will be very challenging. If this wave fails to hold even the critical support, the risk of a false breakout will increase, and a correction on the hourly level may soon begin.

What about the short term? If the price can stabilize at the current level and there is clear support during pullbacks, there might be a slight tentative rebound. However, considering that recent rebounds have been progressively weaker, it’s likely to continue in a narrow range. Once the support level is broken, there’s a high probability that an hourly downward correction will follow.