Dogecoin (DOGE) struggled to rebound after failing to break through the key level of $0.40, with uncertainty surrounding its rise and fall!
Recently, Dogecoin (DOGE) failed to break past the crucial level of $0.40, leading to a price decline. It fell below the support levels of $0.3650 and $0.350, entering a short-term bearish zone.
After further declines, the price broke below the support level of $0.3250, forming a new low at $0.3143.
Currently, the price is attempting to rebound, having broken through the resistance level of $0.3250, but has still not managed to break the level of $0.340.
The 23.6% Fibonacci retracement level, located at $0.3250, is a key area for Dogecoin. Even if the price breaks through $0.3250, it still faces strong resistance at $0.3350 and $0.3400.
The 50% Fibonacci retracement level, located around $0.350, is a key resistance for a rebound in the downward trend. If the price breaks through this area, Dogecoin may further test levels of $0.3620 and $0.380.
