Potential Dogecoin (DOGE) Price Recovery According to Analysts: Will It Continue? (6/3/25)

Jakarta, Pintu News – Dogecoin (DOGE) has recently experienced a significant price drop, breaking below a critical support zone. However, there are indications that the cryptocurrency is starting to show signs of recovery. Is this the start of a sustained recovery or just a temporary strengthening?

Current State of Dogecoin (DOGE)

Dogecoin (DOGE) experienced a sharp decline below the $0.2150 level, dropping below the $0.2050 and $0.200 support levels. The decline even reached below $0.1880, with the lowest point recorded at $0.1826. Currently, Dogecoin (DOGE) is attempting to consolidate losses with a rise above the $0.1950 level, suggesting potential for further recovery.

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Technical Analysis: Recovery Signal

Dogecoin (DOGE) price recovery was supported by several technical factors. The price managed to break the bearish trend line with resistance at $0.1900 on the hourly chart of the DOGE/USD pair. Although it is still below the 100-hour simple moving average and the $0.2150 level, there is an increase above the 23.6% Fibonacci retracement level of the move down from $0.2421 to $0.1826. This suggests that buyers are starting to enter the market.

Potential Barriers and Support

Immediate resistance is seen near the $0.2050 level. If Dogecoin (DOGE) can break this resistance, the next major resistance level is at $0.2120 and the 50% Fibonacci retracement of the same decline. Further resistance is possible near $0.2195. A close above this could push prices towards $0.2220 and potentially higher to $0.2350, with the next bullish target at $0.2420.

Possible Further Decline

If Dogecoin (DOGE) fails to break the $0.2050 level, there is a possibility of further price drops. Initial support lies at $0.1950, followed by major support at $0.1920. Critical support is at $0.1820. If the price breaks below this, Dogecoin (DOGE) may experience a deeper decline towards $0.1740 or even $0.1650 in the short term.

Conclusion: Dogecoin (DOGE) Outlook Going Forward

Although Dogecoin (DOGE) faces significant challenges, recent recovery signals provide hope for investors and crypto enthusiasts. Success in breaking through existing resistance could pave the way for a more stable and sustainable price recovery. However, investors should remain wary of the potential downside that could occur if key resistances are not successfully broken.

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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.

Reference

• NewsBTC. Dogecoin (DOGE) Attempts Rebound, Can Bulls Overcome This Hurdle? Accessed on March 6, 2025
• Featured Image: Generated by AI