Dogecoin is showing signs of a potential trend reversal after bouncing from the $0.0925 support zone. The price has pushed above $0.0950 and the 100-hourly simple moving average, signaling short-term bullish momentum. However, sellers remain active near the $0.0970–$0.0975 range, casting doubt on the next directional move.
The recovery follows a broader uptick across the crypto market, with Bitcoin and Ethereum also posting gains. $DOGE cleared the $0.0935 and $0.0942 resistance levels during the climb. A rising channel has formed on the hourly chart, with resistance capped at $0.0970. The pair is currently testing whether bulls have the strength to sustain this recovery.
Bulls Eye the $0.10 Mark
The 23.6% Fibonacci retracement of the drop from $0.1021 to $0.0926 has already been cleared. This gives the bulls a structural edge in the short term. The next target sits at the 50% Fibonacci level near $0.0975, which aligns with the first major resistance zone.
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