Dogecoin (DOGE) has slipped back to the critical $0.0883 support, closely watched by analysts, renewing attention on its short-term price action. While the daily chart points to ongoing weakn
Dogecoin (DOGE) has slipped back to the critical $0.0883 support, closely watched by analysts, renewing attention on its short-term price action. While the daily chart points to ongoing weakness, experts suggest that as long as the $0.087 to $0.090 range holds on the weekly chart, there’s still hope for a possible rebound.
According to analyst Ali Charts, DOGE deepened its decline after losing the $0.1019 support level, approaching the lower boundary of its descending channel. With the price trading around $0.0891 at the last assessment, the $0.0883 zone just beneath it now stands out as the most vital line of defense in the short term.
The analysis notes that if DOGE manages to hold above $0.0883, the door could open for a potential price recovery first toward $0.1019, then up to $0.1156.
Within the same analysis, remaining below the 50-day simple moving average signals persistent selling pressure in the near term. For this reason, any attempted rebounds toward $0.1019 will encounter resistance rather than renewed support at that level.
Conversely, a daily close beneath $0.0883 could break DOGE’s current channel to the downside, potentially amplifying selling pressure. In that bearish scenario, the next focal area is highlighted at $0.067, where buyers may try to step in.
LevelRolePotential meaning$0.0883Key supportHolding here could spark a bounce$0.1019Initial resistanceNow tracked as resistance, no longer support$0.1156Upper resistanceTarget region in case of a strong rally$0.067Lower zoneCould come into play on weakness below supportOn the weekly chart, however, a more constructive picture comes into focus. Analyst Celal Kucuker highlights that Dogecoin has broken above its long-standing descending channel, potentially signaling a trend reversal. DOGE, known for its strong social media presence and market cap clout, continues to attract the attention of a broad investor base.
In this framework, following a rounded bottom formation built up over several months, DOGE bounced from support around $0.08779 and attempted to print higher lows after the breakout. The weekly MACD indicator reveals waning downward momentum, while its signal lines are nearing a bullish crossover.
Mini glossary: MACD is a technical indicator used to gauge price momentum. While a bullish crossover by its lines is not a guaranteed signal, it may point to strengthening momentum.
According to the weekly projection, if DOGE surpasses the $0.27855 resistance, a much broader rally extending to the psychological $1.00 level could come into view.
The analysis identifies $0.27855 as the main resistance. A breakthrough here would put DOGE on a stronger upward trajectory, with the $1.00 mark looming as a key psychological target. At the time of analysis, DOGE traded at about $0.098, suggesting a potential gain of over 900% if $1 is achieved from current levels.
Even so, the positive scenario hinges on maintaining the $0.087 to $0.090 support zone. Should DOGE fall decisively below this threshold, the anticipated broad-based recovery on the weekly chart could fade and delay further upside expectations.
The post Dogecoin tests $0.0883 support once more! What do the latest analyst signals mean? appeared first on COINTURK NEWS.
