The price of Dogecoin is at the $0.20 level, which represents significant technical support. This level is confirmed by moving averages and market demand.
Key Technical Points
Major support at $0.20, backed by moving averages and demand, is critical for sustaining the bullish structure. The upward target is set at $0.32, which is the next significant resistance.
Current Market Situation
Dogecoin has entered a corrective phase after rejecting from the value area high. Currently, the price is stabilizing just above the $0.20 support level, confirmed by significant technical confluence including moving averages and increased trading volume. Multiple daily closes above this level indicate strong demand.
Expectations for Future Price Movement
As long as Dogecoin maintains the $0.20 support, the bullish trend remains intact. A confirmed break above the nearest resistance will open opportunities for further movement towards $0.32, reinforcing the bullish trend on the daily chart.
The technical structure of Dogecoin remains bullish despite the recent correction. Maintaining the $0.20 support level and breaking the price area will be key factors for potential price growth.
