Can Dogecoin make a comeback? Retail investors gather, can DOGE break through the 0.4 barrier?

Dogecoin has recently been hovering around $0.3, attracting a lot of attention. Now, Dogecoin seems to be gathering momentum, preparing to break through the $0.3165 level. If successful, hey, that could be the start of a big surge!

You see, Dogecoin previously slid down from its highs, and now the trading price is below $0.32, even breaking below the 100-hour simple moving average. On the hourly chart, a bearish trend line is clearly visible, with the resistance set at $0.3165.

However, if Dogecoin can muster the courage to break through this resistance, the next targets could be $0.325 or even the highs of $0.34. But we also need to be clear-headed; there is still significant pressure in the market, and investors need to keep a close eye on the price and manage risks well.

Of course, if Dogecoin fails to break through $0.3165, it may have to drop further. The support levels below are at $0.312 and $0.308, and if it can't hold above $0.3, we need to be cautious as the price could drop all the way to $0.285 or even $0.26.

Looking at the technical indicators, the MACD is currently in the bearish zone with insufficient momentum, and the RSI is also below the 50 level. So, we need to be careful and see how Dogecoin moves next.

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