Dogecoin Analysts Urge Caution: Significant Resistance Ahead

Dogecoin (DOGE) is at a critical juncture after experiencing a notable rebound. However, several experienced crypto analysts have come to a consensus: the price rally will not fully transition from a "relief" rally to an actual "trend reversal" until DOGE manages to surge past the mid-$0.15 mark and establish a new local high.

Key Takeaways

Dogecoin (DOGE) is at a critical price level after a rebound, but significant resistance exists.
Analysts suggest that DOGE must break through $0.157 for a sustainable trend reversal.
The market is still under a broader downtrend unless higher highs are established.
Technical indicators like Bollinger Bands and moving averages signal areas of support and resistance for future DOGE price movements.

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Dogecoin's Rally Faces Key Challenge: $0.157

According to analyst Kevin (known as Kev_Capital_TA), confirmation of a trend reversal will be evident if Dogecoin can rise above this crucial level. He states, “Like Bitcoin and many other altcoins, Dogecoin has returned to successfully test its key 4-hour moving averages after initially breaking through them. A successful retest followed by a new local high will strongly indicate that the corrective phase has indeed concluded, precisely where we predicted it would. A breakthrough above $0.157 is essential.”

Dogecoin 4-hour chart | Source: X @Kev_Capital_TA

In his 4-hour analysis, Kevin notes that DOGE had been on a downward trend for several months, consistently failing at declining moving-average bands. This current rally is significant because it has reclaimed those averages, retesting them without collapsing. This suggests a potential shift from a market that sells on every rise to one that buys on dips. However, the chart reveals that DOGE is still below a broader downtrend unless it pushes to higher highs.

Cantonese Cat's daily overview shows the current struggle, with the latest candle settling at $0.1486 after touching $0.1508 during the day, a level where selling pressure has emerged previously. He notes, "DOGE is forming another bullish daily candle, which engulfs the last five bearish ones." Although this is a positive short-term sign, Dogecoin bulls must still achieve a new higher high for sustained momentum.

Dogecoin daily chart | Source: X @cantonmeow

Big Cheds emphasizes the significance of the mid-$0.15 range, pointing out that DOGE remains below critical trend measures—with the 34-day EMA at $0.1828 and the 200-day SMA at $0.2212 still looming above.

Dogecoin key resistance zone | Source: X @BigCheds

Bollinger Bands indicate that DOGE is bouncing back from a phase of low volatility, with the lower band around $0.11, the basis near $0.135, and the upper band close to $0.16. The price has supported off the lower band and has then moved through the basis, hit the upper band, and now is positioned to retest it.

The next steps are clear: maintaining above the reclaimed short-term averages and breaking through $0.157 will fulfill the 'retest, then higher high' sequence that Kevin is monitoring. This would also push DOGE into the daily supply zone noted by Big Cheds. A push towards the upper Bollinger Band would further validate the momentum in this upward movement.

Conversely, if DOGE fails to breach that zone and reverts below the reclaimed moving average area, attention will shift to $0.1319 and then $0.1208, with a deeper support level at $0.1068 as indicated in the chart.

As of this report, DOGE is trading at $0.14768.

Dogecoin price chart DOGE must break the 200-week EMA, 1-week chart | Source: DOGEUSDT on TradingView.com