Peter Smith
⬤ Dogecoin is showing early stabilization signs after bouncing strongly from the $0.155 support zone on the 2-hour chart. The price action suggests a constructive bounce from the lower range, with short-term momentum beginning to shift in favor of buyers who are trying to regain control following recent weakness.
⬤ The technical structure reveals three important horizontal levels: support around $0.155, mid-range resistance near $0.171, and upper resistance close to $0.185. While DOGE currently trades at the lower boundary, the strong reaction from support has built a potential foundation for upside movement. The price has been showing better stability, with projections pointing toward a gradual climb to the $0.167 zone if current momentum holds.
⬤ The recovery's continuation hinges on whether the market maintains its current reaction pattern, with the recent low serving as a critical stop level. DOGE appears to be forming higher short-term lows, which is a positive sign. If the recovery pushes toward $0.171, that mid-range resistance will likely become the next key decision point based on its historical significance in recent trading.
⬤ This matters because DOGE is defending a structural support area that's been relevant throughout November. Holding above this zone keeps short-term recovery scenarios on the table and maintains the broader consolidation pattern. While still early, the chart presents a cautiously positive setup as the market watches to see if buyers can keep the momentum going.
Peter Smith
