Cryptocurrency trading expert BitGuru shared his technical observations on the social media platform X, pointing out that Dogecoin has stabilized after the recent pullback, showing initial signs of a bullish recovery. This much-watched meme coin has experienced significant volatility in recent weeks, but the new support level formed near $0.155 may lay a solid foundation for a new round of increases. According to BitGuru's analysis, the current price structure suggests that as long as this key support level holds, Dogecoin is likely to gain momentum towards the target price of $0.17.
The market is attempting to regain momentum, with the support level maintained after the pullback. This account is shared from the public account: wanting to eat soft rice hard.
BitGuru shared a detailed chart that covers Dogecoin's price fluctuations since March 2025 in a 4-hour candlestick timeframe. Through the analysis of this chart, a specific price trend pattern can be clearly observed: at the beginning of the month, Dogecoin's price started to decline from $0.22, then formed a consolidation range between $0.16 and $0.17 around mid-month, followed by a rapid rebound, briefly approaching $0.21.
However, this upward momentum did not sustain, and the price subsequently retreated to around $0.16. Currently, the market's focus is on whether this pullback has built a solid foundation for sustained increases. Importantly, the price has shown strong support near $0.155, with Dogecoin successfully bouncing back multiple times at this level, proving the stability of this area as a support level.
The consolidation area between $0.16 and $0.17 aligns with the breakout area at the end of 2024, enhancing its technical significance. Furthermore, the pullback to $0.155 enters an area that previously acted as a resistance level but has now effectively transformed into a support level.
A bullish price structure may lead Dogecoin to drop to $0.17.
BitGuru's analysis focuses on a core viewpoint: the current price pullback is a temporary consolidation in the upward process, aimed at building a solid support level rather than a complete trend reversal. As long as the key support level of $0.155 can hold, the market may aim for $0.17 as the first major target to restart the upward trend. This price level aligns with a small resistance area formed during the previous decline, naturally becoming a reasonable challenge target for the bulls.
From an overall market perspective, it seems to sketch a circular pullback curve, which typically signals the arrival of a new round of increases when market sentiment remains positive. Notably, once it breaks through $0.17, Dogecoin is expected to retest the range of $0.18 to $0.20 before the end of the month. However, if Dogecoin fails to gather enough momentum and instead falls below the support level, the current bullish expectations will face collapse and may shift to a bearish scenario.
In a bearish scenario, if selling pressure continues to increase, Dogecoin faces a high risk of losing the support level at $0.155. Should this support level break, the meme coin may further decline to $0.13, or even drop to $0.11 in extreme cases, essentially erasing all price gains Dogecoin has achieved since October 2024.
