Dogecoin (DOGE) is currently trading at $0.40, having fallen below the $0.45 resistance level. Buyers have been struggling to keep prices above this level since mid-November.

Technical analysis suggests a potential increase to $0.50, but there may be a reversal at the 1.272 Fibonacci extension. The cryptocurrency is currently moving sideways, supported by the 21-day simple moving average (SMA), which is important for maintaining upward momentum. Despite the recent decline, the 21-day and 50-day SMAs are still trending upwards, indicating some resilience. However, if DOGE breaks below the 21-day SMA, it could face increased selling pressure.

Support levels are identified at $0.30 and $0.25. Currently, DOGE is fluctuating between the $0.35 support and the $0.45 resistance, and a cautious outlook is advised as it navigates these price levels.