Usman Salis
Dogecoin has been putting up a fight at crucial support levels, catching the attention of technical analysts. With the meme coin repeatedly bouncing off key price zones, traders are closely watching whether this defensive action can translate into upward momentum or if bears will eventually break through.
DOGE Price Tests Ichimoku Baseline Support
The past couple of weeks have been telling for Dogecoin's price action, particularly around the weekly Ichimoku baseline. Trader @cantonmeow spotted something interesting - DOGE keeps hitting this critical level near $0.21-$0.22 and bouncing back, creating those long lower wicks that technical analysts love to see.
These repeated bounces suggest there's real buying interest at these levels. While the broader crypto market has been choppy, Dogecoin holders seem determined to defend this zone.
Looking at the bigger picture, DOGE is dancing around some important Fibonacci levels:
- $0.26 (0.618 Fib) - This is the main resistance wall overhead
- $0.19 (0.5 Fib) - The current battleground that's been tested multiple times
- $0.14 (0.382 Fib) - Next support if the current level gives way
- $0.09 (0.236 Fib) - The last line of defense for the long-term uptrend
The key thing to watch is whether DOGE can stay above that $0.19 level. As long as it does, the bulls are still in the game.
Can DOGE Price Rebound Toward $0.26?
Here's where it gets interesting. If buyers can keep defending this $0.21 zone and start pushing higher, the next target would be $0.26. And if the momentum really picks up, we might even see a run toward $0.41.
But if this support finally cracks, things could get ugly fast. A break below could send DOGE tumbling toward $0.19, and potentially down to $0.14 if the selling pressure intensifies.
The next few weeks will be crucial in determining which way this meme coin heads next.
Usman Salis
