DOGE Faces Bearish Pressure: Can It Overcome Key Resistance Levels?

Dogecoin (DOGE) has recently encountered significant downward pressure, slipping below critical support levels and struggling to regain momentum. With a bearish trend line forming and analysts offering mixed predictions, the meme coin’s near-term trajectory remains uncertain. Here’s a detailed look at the current state of Doge and what might lie ahead.

Dogecoin (DOGE) Derailed? Meme Coin Faces New Hurdles to Fresh Surge

Dogecoin (DOGE) started a fresh decline from the $0.1700 zone against the US Dollar. The price dipped below the $0.1650, $0.1600, and $0.1585 support levels. It is currently trading below the $0.1620 level and the 100-hourly simple moving average. A connecting bearish trend line is forming with resistance at $0.1620 on the hourly chart. The price could extend losses if it breaks the $0.1575 support zone.

Analyst Predicts 300% Rally in Dogecoin in April

An analyst, World of Charts, who accurately predicted the Dogecoin price rally in 2024, is now forecasting a 300% increase in April. In September 2024, Dogecoin’s price was consolidating below $0.1, but the analyst identified a falling wedge pattern that suggested a potential breakout. The analyst shared their insights on X (formerly Twitter), expecting the meme coin to reach new yearly peaks following the breakout.

Dogecoin: Is It Time To Buy, Hold or Sell DOGE?

The cryptocurrency market experiences volatile seasons. While most assets recorded an uptrend in the past 24 hours, Dogecoin (DOGE) was declining. At the time of writing, Dogecoin was trading at $0.1600, a 2.30% decline over the past 24 hours, with a high of $0.1666 and a low of $0.1577. Industry experts offered insights on whether it’s the right time to buy, hold, or sell DOGE.

Can DOGE Explode From Here? Chart Signals Show Big Move Brewing

Dogecoin (DOGE) is currently down 70% from its post-election highs four months ago, but there are signs of a potential reversal as bullish sentiment returns to the altcoin market. After months of heavy downside volatility, DOGE has increased by a peak of 30% from last week’s lows and is back in the conversation as a top crypto to buy. The risk-on sentiment has returned with Trump’s 90-day tariff pause, and DOGE is among the cryptocurrencies benefiting from fresh retail liquidity. Some analysts, like Ali Martinez, suggest that Dogecoin is gearing up for a big week, with a close above $0.17 potentially opening the door to $0.21 or even $0.29.

800,000,000 DOGE Bought in 2 Days: What Are Dogecoin Whales Preparing For?

Dogecoin whales have accumulated over 800 million tokens in the past two days, sparking speculation about a potential major rally. These whales are crucial in the DOGE ecosystem and have historically made significant moves during both bull and bear markets. Their recent accumulation follows a period of mixed behavior, including substantial sell-offs, which caused DOGE’s price to tumble. It remains to be seen whether this latest accumulation will lead to a price increase, possibly driven by encouraging news on the DOGE ETF front.