Dogecoin (DOGE) at a Critical Turning Point as Key Levels Dictate Its Next Move

Dogecoin (DOGE) is currently trading at $0.17508, following a pullback from the $0.17919 resistance zone. This level has proven difficult to break, leading to a fake breakout above the ascending triangle on the 1-hour chart. As selling pressure mounts, DOGE is edging toward $0.17019, a key support level that will determine its next move.

Key Levels to Watch

Resistance Levels:

$0.17750 – A key short-term resistance; a breakout could trigger renewed bullish momentum.
$0.17919 – A major resistance zone that previously rejected the price. A decisive move above this level could confirm a long-term uptrend.

Support Levels:

$0.17019 – Immediate support where buyers may attempt to regain control.
Ascending Triangle Lower Line – A crucial trend line. If broken, DOGE could face further downside pressure.

Bearish Scenario

If $0.17456 support fails, selling pressure could drive DOGE toward the ascending triangle’s lower trend line. A breakdown below this structure would signal a strong bearish move, increasing the likelihood of a deeper downtrend toward lower support zones. This could lead to extended losses and shake investor confidence.

Bullish Outlook

Conversely, if $0.17456 or the trend line holds, buyers may regain strength and push DOGE toward the $0.17750 resistance zone. A successful breakout past $0.17919 could trigger a sustained rally, reinforcing bullish sentiment. Breaking above this zone could pave the way for a long-term uptrend, benefiting traders and investors.

DOGE is at a pivotal moment. A bounce from support could fuel a bullish breakout, while failure to hold key levels may result in further declines. Traders should monitor these levels closely to anticipate DOGE’s next significant move.

Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.

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