Will Dogecoin (DOGE) Return to the $0.213 Level? Check out the Analysis!

Jakarta, Pintu News – Dogecoin (DOGE) is currently in a critical phase after experiencing a sharp rejection below the $0.26 resistance level. The coin has lost more than 18% in value since reaching a local peak on May 10, erasing most of the gains made during its impressive rally since early April. Leading analyst Ali Martinez predicts that Dogecoin (DOGE) might retest the $0.213 level, which previously served as resistance and support.

Dogecoin (DOGE) Technical Analysis

Dogecoin (DOGE) is showing signs of weakness after failing to hold above key resistance near $0.26 earlier this month. The daily chart shows that Dogecoin (DOGE) is currently trading at $0.221, which is above the 200-day EMA ($0.219) and below the 200-day SMA ($0.269). Trading volume has decreased significantly since early May, indicating a loss of momentum and trader interest.

If Dogecoin (DOGE) misses the $0.219-$0.220 support zone, the next support level lies near $0.213. A drop below this area could trigger further selling pressure towards the $0.19 zone. On the other hand, reclaiming the 200-day SMA at $0.269 would be a significant bullish signal, as it would put Dogecoin (DOGE) back above long-term resistance.

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Speculation and Potential Recovery

Despite the decline, speculation continues to mount regarding Dogecoin’s (DOGE) potential to lead the way should the market regain momentum. Historically, Dogecoin (DOGE) has acted as a high beta asset, often outperforming in the euphoric phase of the cycle.

With the broader market seeking to stabilize, some analysts see Dogecoin (DOGE) as a possible beneficiary if sentiment shifts to bullish again. However, risks remain.

Price is currently just above a key support level, and failure to defend this zone could trigger a deeper retracement. The upcoming session will likely be decisive. The meme coin narrative could gain strength if the bulls take control and push Dogecoin (DOGE) back to $0.26 resistance.

Volatility and Medium-Term Trends

The coming days could determine the direction of Dogecoin (DOGE)’s medium-term trend, with volatility likely to increase. The market is now closely watching whether Dogecoin (DOGE) can maintain current levels or if further declines are on the cards.

Failure to sustain the bullish momentum could open the door for a retest of the $0.213 level, which has previously served as an important zone acting as resistance and support.

Uncertain market conditions and weakening sentiment across altcoins suggest a cautious approach, especially amid broader market uncertainty. The current chart reflects a pause in bullish momentum and the risk of a deeper decline unless Dogecoin (DOGE) gains strength above key moving averages.

Conclusion

With volatile market conditions and challenges faced by other cryptocurrencies, Dogecoin (DOGE) is at an important crossroads. Investor decisions and changes in market sentiment will largely determine the fate of Dogecoin (DOGE) in the next few days. Will Dogecoin (DOGE) return to the $0.213 level or will it break resistance at $0.26 again? Only time will tell.

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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. Crypto trading activities are subject to 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 Momentum Fades, Analyst Expects $0.213 Retest. Accessed on May 21, 2025
• Featured Image: Generated by AI