Will Dogecoin (DOGE) Rebound After Touching Support at $0.1650?

Updated

April 25, 2025

Gambar Will Dogecoin (DOGE) Rebound After Touching Support at $0.1650?

Jakarta, Pintu News – Dogecoin recently showed a significant increase past the $0.1700 zone against the US Dollar. However, DOGE is now experiencing a correction and is expected to find support in the $0.1650 zone.

Dogecoin Price Correction

Dogecoin (DOGE) started a significant rise after successfully crossing the $0.1650 resistance, similar to Bitcoin and Ethereum . DOGE managed to break the $0.1700 and $0.1800 resistance levels before finally experiencing selling pressure. A price peak was recorded at $0.1852, and then the price started to correct downwards. The price dropped below the $0.180 and $0.1750 levels.

This drop also surpassed the 23.6% Fibonacci retracement level of the upside move from a low of $0.1558 to a high of $0.1852. There was also a breakdown of a significant bullish trend line with support at $0.1760 on the hourly chart of the DOGE/USD pair. Currently, the Dogecoin (DOGE) price is trading above the $0.170 level and the 100-hourly simple moving average.

Potential Dogecoin Price Increase

The immediate resistance on the upside is near the $0.1780 level. The first major resistance for the buyers might be near the $0.180 level. The next major resistance is near the $0.1850 level.

A close above the $0.1850 resistance could push the price towards the $0.1920 resistance. Further upside could direct the price towards the $0.1980 level. The next major stopping station for the buyers might be $0.200.

Possible Dogecoin Price Drop

If the Dogecoin (DOGE) price fails to rise above the $0.180 level, there could be another drop. Initial support on the downside is near the $0.1720 level. The next major support is near the $0.1705 level and the 50% Fibonacci retracement level of the upside move from the $0.1558 low to the $0.1852 high.

The key support lies at $0.1650. In case of a drop below the $0.1650 support, the price could drop further. In that case, the price may drop towards $0.1550 or even $0.1450 levels in the short term.

Technical Indicators

The hourly MACD for DOGE/USD is now losing momentum in the bullish zone. The hourly RSI (Relative Strength Index) for DOGE/USD is now below the 50 level. The key support levels are $0.1705 and $0.1650. The key resistance levels are $0.1800 and $0.1850.

Conclusion

Dogecoin (DOGE) is showing significant volatility with the potential for a bounce back if it is able to hold critical support at $0.1650. Investors and traders should keep an eye on technical indicators that could provide further signals on the future direction of Dogecoin (DOGE) price movement.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Trading crypto carries high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.