Dogecoin Price Remains Flat After 42 Days of Inactivity
Dogecoin's price has remained stagnant for over six weeks, following a significant sell-off. The asset is currently confined within a narrow trading range, with critical levels at $0.156 and $0.138.
Key Points
- The recent decisive movement for Dogecoin was a sell-off more than six weeks ago.
- The upper boundary is around $0.156, while the key support level is at $0.138.
- A weekly close below $0.138 could signal the end of the recent rally.
- Momentum indicators like the 3-day MACD show no clear bullish signals; expansion of moving averages is needed for confirmation.
- If Dogecoin loses the $0.156–$0.138 range, it may decline toward the psychological level of $0.10.
- In a broader market context, Bitcoin's performance will influence Dogecoin; it remains in a major correctional phase since January 2025.
- The likelihood of new all-time highs for Bitcoin and Dogecoin diminishes if prices drop significantly.
Currently, DOGE is trading at $0.1621.
