Dogecoin Needs to Surpass $0.157 for a True Trend Reversal

Dogecoin is facing a critical technical level after a recent bounce. Analysts agree that for the rally to turn into a reversal, DOGE must surpass the mid-$0.15s and establish a new local high.

Key Points

DOGE needs to break $0.157 to confirm a reversal from its corrective phase.
Currently trading at $0.14768, it has shown bullish signals by reclaiming moving averages and testing them successfully.
Cantonese Cat notes that DOGE's daily candle engulfs the last five bearish candles, yet a new higher high is essential for momentum.
@BigCheds highlights resistance with the 34-day EMA at $0.1828 and 200-day SMA at $0.2212 overhead.
Bollinger Bands indicate a rebound from compression, with key levels at $0.11 (lower band), $0.135 (basis), and $0.16 (upper band).
A failure to clear $0.157 could shift focus back to support levels at $0.1319, $0.1208, and potentially $0.1068.

Dogecoin 4-hour chart

The setup suggests holding above short-term averages and breaking through $0.157 would affirm the bullish trend. Conversely, slipping below reclaimed MAs might indicate further downside risk.