Current price overview:
According to the latest updates, the price of Dogecoin is currently trading around the range of 0.20 to 0.23 dollars, with relative stability after recent market fluctuations.
Technical analysis support and resistance levels:
Support: The level of 0.19 dollars is currently considered critical support, as it has shown stability against recent selling. If this level fails, the price may decline toward 0.17 dollars then 0.15 dollars.
Resistance: The level of 0.24 dollars represents the initial resistance line, and above it, 0.26 dollars (the neckline of a potential double bottom pattern). Breaking 0.26 dollars may open the door towards 0.30 dollars or even 0.47 dollars in the medium term.
Technical indicators:
Moving averages: The price is trading below the 50-day exponential moving average (0.206 dollars) and the 200-day (0.207 dollars), indicating short-term bearish pressure. However, the golden cross (20/200 days) supports the long-term upward trend.
Relative Strength Index (RSI): The indicator is trading around 50 or lower, reflecting a slowdown in upward momentum. Rising above 50 may enhance positive expectations, while falling below 40 may indicate additional selling pressure.
MACD indicator: It shows a bearish crossover, confirming a temporary loss of upward momentum. However, resetting indicators may pave the way for a rebound if the price stabilizes above 0.19 dollars.
Chart patterns:
Double bottom pattern: A double bottom pattern is forming on the weekly timeframe at the support level of 0.142 dollars, indicating the potential for a strong bullish reversal if this level is maintained.
Descending wedge: Patterns since late 2024 indicate that the price may be on the verge of a bullish breakout, especially if it surpasses 0.26 dollars.
Hidden bullish divergence: On the hourly timeframe, a positive divergence is showing in the RSI indicator, suggesting potential buying pressure in the very short term.
Whale activity:
Significant increase in whale accumulation, with over one billion Dogecoin purchased on August 6, 2025, and an additional 230 million coins the following day. This boosts confidence in a potential upcoming rise, especially with a buy-to-sell ratio of (3:1) on platforms like Binance and OKX.
Short-term forecast (today and coming days): Bullish scenario: If the price maintains support at 0.19 dollars and breaks 0.24 dollars, it may target 0.26 dollars then 0.30 dollars by the end of August.
Bearish scenario: Breaking the level of 0.19 dollars could lead to a decline toward 0.17 dollars or 0.15 dollars, especially if the overall bearish pressure persists.
Timeframe: On the daily timeframe (D1), the recommendation is "Sell" due to bearish pressure, while on the weekly timeframe (W1), the recommendation is "Buy" based on the long-term upward trend.
External factors:
Overall news: Economic pressures such as the new taxes imposed by the U.S. president and expectations of stable interest rates may negatively affect risk assets like Dogecoin.
Market impact: A rise in the overall market, such as the impact of Ripple's acquisition of Rail, may support Dogecoin's momentum.
Community optimism: Community support and whale activity enhance optimism, especially with expectations of a potential approval for instant trading funds for Dogecoin.
Tips for traders: Keep a close watch on the level of 0.19 dollars, as it is a critical point for determining the trend.
Use stop-loss orders to reduce risks, especially with high volatility.
Wait for clear confirmation signals (such as breaking 0.24 dollars or breaking 0.19 dollars) before making trading decisions.
Diversify the portfolio and do not allocate more than 5-10% to Dogecoin to manage risk.
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