Will $0.18 Support Hold for the Next Pump?

Key Insights:

• Dogecoin’s $0.18 support holds the key for the next potential price surge.
• RSI indicators suggest a potential rally as DOGE forms a solid base for growth.
• Analyst forecasts growth, citing potential for Dogecoin’s continued upward momentum.

Dogecoin ($DOGE) has shown signs of a potential rebound after dropping from its previous highs. The price recently tested support near $0.18, leading to questions about whether this level will hold for the next upward movement.

According to BitGuru, Dogecoin surged from $0.07587 to $0.21309, and it experienced a correction before briefly rallying again to $0.24965. However, the cryptocurrency then entered a steady downtrend, bringing its price back to the support zone near $0.18.

Dogecoin is currently trading at $0.2059, reflecting a modest 2.62% increase in the last 24 hours. The market is trying to bounce back from the support zone near $0.18,” said an analyst. This statement suggests that traders are looking for signs of stability before deciding whether to jump back into positions.

Market Momentum and RSI Indicators

The $0.18 mark has become a key area of interest for Dogecoin traders. As the price approaches this zone, market sentiment will be crucial in determining whether the support can withstand selling pressure.

Trader Tardigrade mentioned that DOGE has been forming a solid base before a possible surge. As of Tardigrade, “Larger bottom, larger pump” is what he suggests could be in play for Dogecoin, implying that the price may rise significantly if this base holds.

Tardigrade believes Dogecoin has been forming a solid base for a potential surge. This suggests that if the $0.18 level holds strong, Dogecoin could see another move upward soon.

Potential for Further Upside

As per Analyst Ðave Ð. Ðoge has forecasted a potential surge for Dogecoin ($DOGE), pointing up that the cryptocurrency could experience significant growth. He pointed out that the monthly RSI is showing signs of being overbought, indicating the possibility of a continued rally.

Based on Ðave Ð., Dogecoin has not yet seen a 1000% increase since its bottom, suggesting there is ample room for future growth.