Dogecoin continues to fluctuate within a narrow range between the $0.15 support level and the $0.23 resistance level, with trading volume below average, indicating that a breakout above resistance would require stronger buying pressure.
After declining from its recent peak, Dogecoin has stabilized in a key trading zone, accumulating momentum around the $0.15 support level.
Key Technical Observations
- Critical Support at $0.15: This level marks the lowest point of the previous cycle and continues to serve as long-term support.
- Major Resistance Level: The price remains confined within the $0.15-$0.23 range, which Dogecoin must break through to shift its price structure trend.
- Insufficient Trading Volume: Daily trading volume remains low, lacking the strength needed to confirm a stable resistance breakout.
Overall, Dogecoin is trading in a tight range without a clear directional bias. However, if it can sustain stability above the $0.15 level with consistent and sufficient trading volume support, it could mark the beginning of an upward move toward the next resistance at $0.23 or higher.
Investors should monitor trading volume and confirmation signals of structural shifts before entering directional trades.
Source: https://crypto.news/dogecoin-consolidates-at-key-support-zone-as-volume-remains-subdued/
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