Dogecoin Shows Signs of Recovery After Price Decline

Dogecoin (DOGE) Price Recovery Overview

In recent trading, DOGE has shown a recovery from a local low of $0.156 to around $0.158. Key points include:

V-shaped recovery pattern observed with volume spikes of 16-21 million during the bottoming process.
Immediate resistance identified at $0.158-$0.159, with decreasing selling pressure on multiple tests.
Current price aligns with the 38.2% Fibonacci retracement level and may aim for the 50% retracement at $0.160 if momentum continues.

Price Range: DOGE fluctuated between $0.179 and $0.156, marking a 12.7% swing.
Volatility: Annualized volatility over the past 48 hours reached 86.3%, above average market levels.
Support/Resistance: New critical support zone established at $0.158–$0.160 after breaking down from $0.165.
Fibonacci Levels: Potential stabilization could occur at the 61.8% retracement level ($0.162).
Volume Analysis: High-volume selling followed by significant recovery volume spikes noted.
Recovery Pattern: V-shaped recovery with decreasing selling pressure detected at resistance levels.
Retracement Levels: Current movement aligns with 38.2% Fibonacci retracement, targeting a move towards $0.160.