Is $0.30 the Next Stop?

Key Insights:

• Dogecoin defends $0.24 support, forming higher lows and setting up for a potential breakout.
• Price approaches $0.288 resistance, aligning with Fibonacci level and previous swing high on the chart.
• Bullish channel remains intact, with momentum building toward a $0.30 retest if support holds firm.

Dogecoin (DOGE) was showing early signs of strength after holding above a key support level at $0.24. The price is now trading around $0.2511, gaining just over 2% in the past 24 hours. Despite a slight decline over the past week, the structure appears stable, and traders are watching for a possible move toward the $0.27 to $0.30 zone.

With market volume picking up and short-term trends holding, the price is forming a base that could support another leg higher.

$0.24 Support Holds After Pullback

Dogecoin recently pulled back from a local high near $0.30, forming a short correction before finding support at $0.24. That level has now acted as a base, with price bouncing back and forming higher lows. BitGuru described the setup as “a healthy structure” and noted that DOGE is “trying to pull back from the $0.24 support zone.”

This level is being treated as a pivot. If it continues to hold, short-term price action may aim for the $0.269 area, which served as a previous resistance during earlier attempts to break higher.

Resistance Near $0.288 Could Be Next Test

A separate chart shared by trader Daitaro shows DOGE moving inside an upward channel, supported by consistent higher highs and higher lows. The price is now approaching the midpoint of this range, with the next resistance seen at $0.288. This area aligns with the 0.786 Fibonacci level and a recent swing high.

Daitaro expects some reaction at that level and mentioned he may “open a hedge short when we reach that level.” The chart reflects two potential paths: a continuation through resistance, or a rejection leading to another retest of lower support.

Channel Structure Intact Above $0.236

The range between $0.236 and $0.240 continues to act as the main support zone. It also includes key Fibonacci retracement levels and recent demand zones. As long as this area holds, the current upward trend remains valid.

If momentum builds, DOGE may revisit the $0.27 level, and a strong move through $0.288 could bring the $0.30 target into view. For now, the price is holding above key levels and following a clear technical path.