Saad Ullah
Dogecoin (DOGE) price has reached a critical juncture, hovering near a major support band following weeks of decline. Traders are watching closely to see if this zone will trigger a short-term bounce or lead to a retest of October's low. The chart shows that previous attempts to recover have failed, making the $0.18 level crucial for what comes next.
Key Support and Resistance Levels
Analyst BitGuru points out that this zone will be decisive in determining whether bulls can regain control or if the correction will deepen.
The technical structure on the 4-hour chart shows a clear battle zone forming around these levels.
- Immediate support: $0.18–$0.19, where price is currently consolidating
- Resistance zone: $0.20–$0.205, previously support but now acting as resistance
- Upside targets: If reclaimed, $0.22–$0.23 and potentially $0.25–$0.30
- Downside risk: Breaking below $0.18 could push DOGE toward $0.15–$0.16, with October's $0.095 low as a worst-case scenario
Chart Insights
The sharp drop from $0.30 to $0.095 shows how quickly liquidity vanished once the consolidation broke down. Multiple attempts to push above $0.20 have been rejected, confirming it as near-term resistance. Right now, price action reflects ongoing consolidation with bulls and bears locked in a standoff at the $0.18 level.
What Could Drive DOGE's Next Move?
Bitcoin volatility continues to shape memecoin sentiment across the board. Market rotation within the meme coin space often impacts DOGE demand. Any major headlines, especially those connected to X or Tesla, could spark sudden bullish momentum.
Saad Ullah
