DOGE is currently trading at $0.27105, pulling back after a spectacular rally from the July lows. The price has slammed into a critical resistance level around $0.2900, which also marked the peak in late February, and is now facing selling pressure.
The ZigZag indicator on the daily chart clearly shows the V-shaped recovery and the current test of this major horizontal resistance. The recent red candle indicates that sellers are defending this level aggressively, pausing the strong uptrend.
📈 Key Levels:
Resistance: $0.2900
Support: $0.2600
🎯 Buy Zone: $0.2600 – $0.2650 (on a successful pullback)
🛡 Stop Loss: Below $0.2500
🎯 Target 1: $0.2900
🎯 Target 2: $0.3200 and beyond
🔥 My Take: DOGE's impressive rally has met its first major challenge at the $0.2900 resistance. A pullback was expected after such a strong move. The key now is whether bulls can establish a new support base, potentially around the $0.2600 level. If they succeed, it could provide the fuel for a breakout above $0.2900. A failure to hold support could lead to a deeper correction.
