• Dogecoin price is stuck in a tight range but a 42% surge may be in the offing.
  • DOGE is looking for reliable support before the token reverses the period of underperformance.
  • The meme-based token could target higher prices if Dogecoin surges above $0.26.

Dogecoin price could be ready for a 42% bounce toward $0.26 but not before DOGE discovers a reliable foothold. The meme-based token may see a buy opportunity at slightly lower prices before the bulls prepare for a major upswing.

Dogecoin price to find meaningful support

Dogecoin price has formed a parallel channel on the daily chart, suggesting that the token is range-bound. The toughest area of resistance appears to be at $0.26, indicating that the bulls may be planning a 42% upswing. 

Although the prevailing chart pattern suggests that there is more upside potential in Dogecoin price, the token may drop lower first to find meaningful support.

The first line of defense for Dogecoin price is at the 21-day Simple Moving Average (SMA) at $0.17, then at the lower boundary of the prevailing chart pattern at $0.15.

Should Dogecoin price manage to discover reliable support at the downside trend line of the governing technical pattern, DOGE bulls can expect a bounce to reverse the period of underperformance.

The first area of resistance is at the 23.6% Fibonacci retracement level at $0.18, then at the 50-day SMA at $0.20. Additional resistance will emerge at the 38.2% Fibonacci retracement level at $0.21.

DOGEUSDT

DOGE/USDT daily chart

Dogecoin price may face a tougher obstacle at the 100-day SMA at $0.22, which coincides with the middle boundary of the prevailing chart pattern.

Another hurdle will emerge at the 50% retracement level at $0.23, coinciding with the 200-day SMA. The most challenging headwind for Dogecoin price is located at $0.26, where the 61.8% Fibonacci retracement level, intersects with the resistance line given by the Momentum Reversal Indicator (MRI).

If a spike in buy orders occurs, Dogecoin price may target higher levels, first at the 78.6% Fibonacci retracement level at $0.29, then at the upper boundary of the parallel channel at $0.32.


Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

Recommended content


Recommended Content

Editors’ Picks

Bitcoin recovers above $85,000 while institutional investors offload their holdings

Bitcoin recovers above $85,000 while institutional investors offload their holdings

Bitcoin (BTC) recovers slightly and trades around $86,000 at the time of writing on Thursday after falling nearly 15% at one point this week. US President Donald Trump’s ongoing tariff news and falling institutional demand fueled the BTC’s correction.

More Bitcoin News
ONDO Finance partners with Mastercard: Tokenized Real-World Assets to Multi-Token Network

ONDO Finance partners with Mastercard: Tokenized Real-World Assets to Multi-Token Network

Ondo Finance announces a partnership with Mastercard to bring tokenized Real-World Assets to Mastercard’s Multi-Token Network.. This integration will bring Ondo’s OUSG token to MTN, enabling businesses to access the benefits of tokenized treasuries seamlessly.

More Ondo News
Solana Price Forecast: DTCC lists first SOL futures ETF, will it avert $130 breakdown?

Solana Price Forecast: DTCC lists first SOL futures ETF, will it avert $130 breakdown?

Solana price edges higher and trades near $140 at the time of writing on Thursday after tumbling from $172 to $134 this week as FTX estate’s impending token unlock looms ahead despite early gains from a new SOL Exchange Traded Fund listing.

More Solana News
XRP remains in murky waters as SEC drags feet in dismissing its case against Ripple

XRP remains in murky waters as SEC drags feet in dismissing its case against Ripple

XRP has witnessed heavy losses since the beginning of the week, dropping nearly 15% as the crypto market stretches its losses. Ripple community members continue to expect an end to the SEC's multi-year lawsuit as the agency closes another investigation.

More Ripple News
Bitcoin: BTC demand and liquidity conditions remain weak

Bitcoin: BTC demand and liquidity conditions remain weak

Bitcoin price has been consolidating between $94,000 and $100,000 since early February, hovering around $98,000 at the time of writing on Friday. Despite this consolidation, US Bitcoin spot ETFs data recorded a total net outflow of $489.60 million until Thursday, hinting signs of weakness among institutional investors. 

Read full analysis
The Best brokers to trade EUR/USD

The Best brokers to trade EUR/USD

SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.

Read More

BTC

ETH

XRP