Altcoins News
By Dan Saada
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Resistance Levels Stack Up Near $0.10. The immediate roadblock sits at $0.0980. That's where sellers showed up last time, and they'll…
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What Happens If Support Breaks. Here's the flip side. If DOGE can't get past $0.0980, the selling could pick up.
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Dogecoin sits at a crossroads. The meme coin trades above $0.0950 right now, holding onto a critical support level after pulling back from $0.0985 earlier this week.
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The price action tells a familiar story. Bitcoin and Ethereum both saw similar patterns recently, and Dogecoin followed suit with a downside correction that caught some traders…
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The immediate roadblock sits at $0.0980. That's where sellers showed up last time, and they'll probably be waiting there again. Just above that, $0.
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If DOGE manages to close above $0.10, the next targets come into view pretty quickly. Traders are watching $0.1120 first, then $0.1150, and if momentum really builds, $0.
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The 100-hourly simple moving average is still providing support underneath current prices. That's a good sign for bulls who want to see this rally continue.
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Here's the flip side. If DOGE can't get past $0.0980, the selling could pick up. First support to watch is $0.0955, which lines up with that bullish trend line mentioned earlier.
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Drop below $0.0950 and things get uncomfortable. The next support sits at $0.0920, and if that fails, $0.0880 comes into play.
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The hourly MACD is showing momentum in the bullish zone right now. That's encouraging. The RSI sits above 50 too, which means buyers still have some control over price action.
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See also: Bitcoin Struggles to Hold Ground as Weekly Close Nears Critical Support Level
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Technical traders are watching these levels closely because Dogecoin tends to respect support and resistance zones more clearly than some other coins.
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Bulls need to maintain stability above $0.0955 to have any shot at challenging higher resistance levels. That trend line support is crucial.
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The current setup reminds some traders of similar consolidation periods Dogecoin went through earlier this year.
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Market sentiment around Dogecoin remains mixed. Some see the current consolidation as healthy, giving the coin time to build energy for the next leg up.
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