As Bitcoin reclaimed higher ground, Doge returned from a brief pullback mode and advanced recovery. It appears strong daily, but negotiating the next major move while sitting at a minor resistance level.
Dogecoin didn’t see much gain amid the ongoing market recovery, unlike other top meme coins like Bonk and Pepe. Though several Base and Solana-based tokens popped out with gains. However, they have signalled a trend shift, but it has yet to be validated on the daily chart.
Last week was a bit interesting for the primary meme coin as it tapped the $0.19 level, which later suppressed buying after a sudden rejection.
The rejection led to a drop, and the crypto entered the week in a pullback mode, posting losses. However, the $0.166 level provided support in the mid-week and the price recovered with a surge.
It reiterated positive actions today and pushed higher. It slowed down buying in the past hours and now sits at a resistance of $0.181. A further push there should bring more recoveries in the market.
Meanwhile, this resurge was mainly triggered by the latest increase in Bitcoin’s price. If the Doge fails to advance the latest buy signal, we may see a drop capable of rolling the price back to the recent low.
Whichever way, the negative market sentiments have faded due to a little suspense in the downtrend. While the market appears strong on the daily scale, it is important to note that the trend is still in favour of the bears from a short-term perspective.
DOGE’s Key Level To Watch
In the latest resurge, Doge may face resistance at $0.206. Above this resistance lies $0.24. If the price scales through these levels, higher resistance to watch would be $0.287.
Losing the holding $0.166 support may bring us back to the $0.15 level and perhaps $0.13. A breakdown from there could plummet the price to $0.115 in no time.
Key Resistance Levels: $0.206, $0.24, $0.287
Key Support Levels: $0.151, $0.13, $0.115
- Spot Price: $0.181
- Trend: Bullish
- Volatility: Low
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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