Dogecoin Holds $0.24, Eyes Recovery Toward $0.27

Key Insights:

• Dogecoin holds $0.24 support after rejection at $0.3072, eyeing short-term recovery toward $0.27.
• Analyst Mags marks $1.045 as bearish target, signaling possible ceiling for long-term Dogecoin rally.
• Dogecoin trading volume hits $3.09B, with traders focused on $0.235–$0.240 support range.

Dogecoin was trading at $0.2469 with a 24-hour gain of 2.88% and a 7.48% drop over the past week. The coin recently retreated from a local peak of $0.3072 and is now sitting near the support range between $0.235 and $0.240.

BitGuru noted, 

“$DOGE was trading near 0.2402, showing signs of attempting a pullback after recent rejection from the 0.3072 peak.” 

The $0.235–$0.240 level has served as a foundation for earlier rallies, and buyers are showing interest in defending it again.

Recovery Path Toward $0.27

On the 4-hour chart, Dogecoin shows early signs of a rebound. If current support holds, the next move could take price toward $0.260–$0.270, an area where resistance may appear.

Earlier this month, DOGE broke out from a consolidation phase, described in the chart as a “bullish beauty,” before facing rejection at $0.3072. The present setup resembles a retest of demand zones, where a pullback may fuel another attempt higher.

Long-Term View Points to $1 Target

Analyst Mags outlined a larger projection that places $1.045 as a bearish target. The chart shows DOGE breaking above descending trendlines that capped moves since 2022, setting the stage for a broader uptrend.

Mags said, 

“$DOGE – $1 is a bearish target for dogecoin!” 

This suggests the $1 level could act as a major ceiling where selling pressure intensifies. The same chart also indicates a potential extension toward $2.49 if momentum continues beyond $1, though $1 remains the first key threshold.