Peter Smith
Dogecoin (DOGE) is having a solid day, jumping 8% to become one of the biggest gainers in crypto. The meme coin is trading at $0.1995 right now, just a whisker away from that stubborn $0.20 resistance level that's been giving bulls a hard time.
DOGE Price Looking Strong on Short-Term Charts
The hourly chart is telling a pretty bullish story for DOGE right now. Even after today's sharp 8% pump, the coin still looks like it has gas in the tank. If it can punch through the local resistance, we might see it push toward the $0.2050 zone.
According to CoinStats, most coins are hitting new local highs, and DOGE is definitely riding that wave. The momentum feels real, not just another fake-out that fizzles after a few hours.
Daily Chart Shows $0.20 Still a Major Hurdle
Zooming out to the daily timeframe, DOGE has bumped into that $0.20 wall again. This level has been a real pain for bulls - every time the price gets close, it seems to struggle.
Here's the thing: how today's daily candle closes really matters. If DOGE ends the day well below $0.20, sellers might step in and push the price back down to the $0.19-$0.1950 area. It's one of those make-or-break moments that traders love to watch.
Weekly Outlook: $0.22 Target If DOGE Breaks Higher
The weekly picture is actually more encouraging. If DOGE can close above $0.20 on the weekly chart - and do it cleanly without a long upper wick - we could see a move toward $0.22.
That would be a nice 10% gain from current levels and would finally give bulls something to celebrate. The key is getting a clean break, not just a quick spike that gets sold off immediately.
With the broader crypto market looking pretty healthy and coins hitting new local peaks, DOGE has a decent shot at making this happen. The next few days will tell us if this 8% jump was just the beginning or if $0.20 is going to play spoiler again.
Peter Smith
