Dogecoin Consolidates, $0.32 Retest Anticipated Amid Bullish Momentum
Dogecoin is currently consolidating between $0.220 and $0.240 after a recent rejection near $0.307. Despite the pullback, analysts indicate bullish momentum remains strong, suggesting a potential retest of the $0.32 level.
Support and Resistance Levels
- The red dashed line continues to serve as a critical support level, confirming price stabilization.
- If current momentum holds, another attempt at the $0.32 resistance zone is likely.
- Analysts believe reaching the all-time high could occur within 30 days if these levels maintain strength.
Consolidation Phase
- Dogecoin experienced a strong rally toward $0.307 but faced significant resistance, leading to its current consolidation phase.
- The market is balanced between buyers and sellers, awaiting new catalysts for movement.
- A successful upward break in consolidation could lead to retesting $0.307 or higher, while failure might push prices below $0.220.
