Usman Salis
Dogecoin (DOGE) rebounds from $0.196 support and pushes back above the crucial $0.200 mark. The meme coin's bullish reversal targets $0.204 amid growing momentum.
Dogecoin just staged a solid comeback today. After dropping to $0.196, DOGE found support and bounced back above the key $0.200 level. The recovery was quick and strong, forming a bullish engulfing candle that caught traders' attention.
Right now, DOGE sits at $0.20029, just above the entry point for a popular long trade setup. The bounce happened fast, suggesting serious buying pressure underneath.
DOGE Bulls Reclaim Key $0.20 Level
The turnaround started when DOGE hit $0.196 and buyers immediately stepped in. The quick reclaim of $0.200 is significant because this psychological level often determines short-term sentiment. When crypto bounces back above round numbers like this, it usually means bulls aren't giving up.
The speed of the move suggests there was pent-up demand waiting at these prices. Now traders are watching to see if DOGE can hold these gains or if it's just another fake-out.
DOGE Long Setup Eyes $0.204 Target
A trading setup on X calls for going long at $0.20023, with a stop loss at $0.19872 and target at $0.20431. Since DOGE is trading above the entry level, the trade is now active with a decent 1:2.6 risk-reward ratio.
The target sits around $0.204, and if buying momentum continues, DOGE could hit that level quickly. The key is staying above $0.200 - as long as it does, bulls have a shot at pushing higher.
Key Levels:
- Current Price: $0.20029
- Target: $0.20431
- Support: $0.198-$0.200
- Resistance: $0.204-$0.20431
The quick recovery and bullish pattern suggest DOGE has strength left. If buyers keep showing up, this bounce could turn into a proper rally. For now, bulls seem back in control, at least short-term.
Usman Salis
