Saad Ullah
Dogecoin (DOGE) is stuck in a tight trading range around $0.168, and this squeeze could explode into major price action soon. The meme coin has been moving sideways for weeks, setting up what traders call a "powder keg" situation.
DOGE Price Hits Critical Resistance
Right now, DOGE is fighting against the 26-day EMA, which keeps acting like a brick wall around $0.168. Every time the price tries to break higher, sellers jump in and push it back down. What's making this even trickier is that the 26-day EMA itself is still dropping, showing that the bulls haven't really taken control yet.
But here's the interesting part - buyers keep stepping in whenever DOGE dips lower. This has created what's called an ascending channel, where the price keeps making slightly higher lows even though it can't break through the top. It's like a slow-motion battle between buyers and sellers, and neither side is winning.
The volume has been pretty quiet lately, which usually means traders are sitting on their hands, waiting for something big to happen. When everyone's waiting like this, it often means a big move is coming.
What's Next for DOGE Price?
The next big moment for DOGE will likely come when it either breaks above that 26-day EMA or falls below the channel. If it manages to close above the EMA on a daily chart, we could see it run up to $0.185-$0.19 pretty quickly. After that, the big psychological level at $0.20 would be the next target.
On the flip side, if DOGE can't hold the ascending channel and breaks below recent lows, it could easily drop to $0.15 or even lower. That would mean the squeeze is over and the bears won this round.
The thing about these tight ranges is that when they finally break, the move can be fast and dramatic. Traders should watch for a big volume spike and a strong daily candle that clearly breaks out of the current pattern. Until then, DOGE will probably keep bouncing around in this same range, getting tighter and tighter until something gives way.
Saad Ullah
