Dogecoin is currently trading at around $0.1644, and analysts suggest the meme coin may be gearing up for a potential rebound if it continues to hold above key support.
According to crypto market watcher Ali Martinez, the longer DOGE stays above the $0.15 mark, the higher the chances of a rally toward the $0.22 level.
Dogecoin remains the 9th largest cryptocurrency by market cap, standing at approximately $24.66 billion. Trading activity appears steady, with a 24-hour volume nearing $391 million and a slight 7-day gain of 0.23%.
A chart shared by the crypto expert outlines a rising trendline that has held since early 2024, acting as a strong dynamic support. DOGE recently bounced from this ascending trendline, which coincides with horizontal support just above $0.15—highlighting the significance of this zone.
Key Support and Resistance Levels:
- Support: $0.1500 (horizontal) and $0.1550 (ascending trendline)
- Resistance: $0.1850 (minor horizontal), $0.2000 (psychological level), and $0.2200 (Fibonacci & structural zone)
If DOGE sustains momentum above these levels, it could retest the upper resistance band, especially if broader market sentiment turns bullish. However, a breakdown below $0.15 might invalidate the bullish thesis and lead to a retest of lower supports near $0.13.
Alexander Stefanov
Reporter at Coindoo
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over 8 years of experience covering the crypto, blockchain and fintech industries, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics.
Source: https://coindoo.com/market/can-dogecoin-break-higher-from-key-support/