Dogecoin Price Action Hints at Pre-Bull Run Setup – Key Support $0.113
Dogecoin's chart whispers a familiar story—one of coiled springs and impatient bulls.
The Meme Coin's Technical Pulse
Patterns on the daily timeframe are tightening, suggesting a significant move is brewing. Analysts point to a critical support level at $0.113, a line in the sand that separates a bullish consolidation from a bearish breakdown. The current price action is tracing a setup often seen before major rallies, where the asset gathers energy in a narrowing range before a decisive breakout.
Market Sentiment & The Bigger Picture
While the technicals hint at potential, the broader crypto market's mood remains the ultimate catalyst. A surge in trading volume and a break above key resistance could validate the pre-bull run narrative. Conversely, a failure to hold support risks unraveling the setup—a reminder that in crypto, even the most promising charts can be undone by a sudden wave of risk-off sentiment from traditional finance, which still treats digital assets like a speculative sideshow.
The stage appears set. Whether Dogecoin delivers its next viral rally or becomes another lesson in meme-stock volatility now hinges on that crucial $0.113 level.
Daily Chart Confirms Bearish Pressure
Although the overall look for the weekly chart seems to be bullish, the situation is entirely different when observed on the daily chart. Notice that since mid-October, the market has been in a downtrend and has breached all the major moving averages (20, 50, 100, and 200 EMA).
Source: Tradingview
At the moment, the DOGE/USD pair falls below the resistance levels created by the 20-day and 50-day moving averages, set between $0.136 and $0.152.
This bearish configuration is then validated by the presence of the 100-day and the 200-day moving averages above. Every minor rally so far has not had the potency to break above.
Dogeoin Consolidates Below Key 0.236 Fibonacci Level
The Fibonacci levels add more information in terms of price action. DOGE is currently in a period of consolidation just below the 0.236 level at around $0.150, indicating a slight rebound rather than a major turn in the trend. The first level of support WOULD be at the 1.618 level at approximately $0.113-$0.115.
If the selling momentum indeed persists, the targets for liquidity purposes will be at the 2.618 level close to $0.088, followed by the 3.618 and 4.236 levels at $0.063 and $0.048.
Source: Tradingview
However, for any sort of genuine recovery, one would require a strong close above $0.152 along with re-capturing the $0.17-$0.19 region, where the 100-day and 200-day EMA levels intersect.
