Dogecoin Aims for Breakout to $0.29 as Bulls Test Key Support
Dogecoin (DOGE) is showing signs of stability after weeks of selling pressure. The broader crypto market indicates a potential recovery, though analysts caution this may be a short-term relief rally amid a longer bear market since Bitcoin's all-time high in January.
Key points include:
- DOGE could break out if it closes above $0.17, potentially reaching $0.21.
- Current trading price is $0.162, reflecting a 30% increase from approximately $0.129 last week.
- Critical resistance levels to watch are at $0.185 and $0.205 for confirming a recovery phase.
- Support at $0.13 must be maintained; losing support at $0.15 may signal further declines towards $0.12.
Renewed investor interest is noted as both retail and institutional traders eye DOGE during this recovery. Confirmation of a sustained breakout requires holding above these critical levels with volume.
