Dogecoin is showing positive signals as the price begins a new recovery from the strong support area of $0.1950 against the US Dollar (USD). After surpassing several important resistance levels, DOGE is currently consolidating the uptrend and may soon extend the rally if it breaks through the next resistance levels.

DOGE Bounces Back From Support Area of $0.1950

In recent trading hours, DOGE has strongly recovered from the support area of $0.1950. The price has surpassed several resistance levels including $0.2020, $0.2120, and $0.2150. The upward momentum continues to be maintained as the price touches the level of $0.2243, close to the important resistance level of $0.2250.

Currently, DOGE is trading around $0.2200 and is above the 100-hour simple moving average – a positive sign for the medium-term uptrend.

Technical Support & Uptrend

On the hourly chart of the DOGE/USD pair (data source from Kraken), a clear upward trendline is forming with support near $0.2150. At the same time, the $0.2175 level also acts as short-term support, further reinforcing the accumulation zone below.

Additionally, a deeper support zone is located at $0.2100 – coinciding with the 50% Fibonacci retracement level of the rise from the low of $0.1956 to the high of $0.2243.

Bullish Scenario: Break above $0.2250 – Aiming for $0.250 and higher

  • Short-term resistance: $0.2250 – if DOGE can surpass this area, the uptrend may be triggered more strongly.

  • Next resistance: $0.2320 and $0.2420 – if closing above $0.2420, the price may aim for:

    • Short-term target: $0.2500

    • Extended target: $0.2650, even $0.2780 in the case of a wide market rally

Bearish Scenario: Cannot Break Above $0.2250 – Risk of Adjustment Towards $0.2050

If DOGE cannot break above the level of $0.2250, a price adjustment may occur. Key support levels to pay attention to:

  • Closest support: $0.2175 and $0.2150

  • Important support: $0.2100

  • If it breaks $0.2100: The price may drop to the $0.2050 area or even $0.2020 – where it previously acted as an accumulation zone.

Technical Indicators Supporting Uptrend

  • MACD (Moving Average Convergence Divergence): Regaining upward momentum in the positive territory – supporting the possibility of an extended uptrend.

  • RSI (Relative Strength Index): Currently above 50 – indicating that buying pressure is dominant.

Summary

Dogecoin is showing clear growth signals after breaking through multiple resistance levels. With the current momentum, it is only a matter of time before DOGE conquers the levels of $0.2250 and $0.2320 unless there is negative surprise from the broader market. However, investors also need to pay attention to important technical support levels to manage risk in case of a short-term adjustment.