Following a series of increases in the past few weeks, Dogecoin rose this week, reaching a new high since three years of trading. Dogecoin has faced setbacks, but if the bull market continues, more increases may occur.
This month entered a correction mode, with Doge finding support at $0.142 and bouncing back. This triggered buying, and the price continued to soar, reaching $0.438 today, marking a three-year high.
The recent surge in volatility signals the arrival of a bull market, and given the current situation, a greater rebound should occur as demand levels are rising.
However, the current daily decline is worth noting, as from a micro perspective, Doge's bullish momentum seems to have exhausted. If this proves to be a sell signal, it may enter a correction mode to find a solid foundation to support new increases.
Based on the upward trend so far, Dogecoin has significantly rebounded and now appears extremely bullish every day. Further surges may test the highs from May 2021 before deciding the next direction.
While other top meme coins like Bonk, Floki, and Elon have seen significant increases since yesterday, Dogecoin is still considered the best performer, as it leads in trading volume and market capitalization.
The key levels of DOGE are worth paying attention to
If Doge continues to rise and successfully closes above the resistance level of $0.448 from May 2021, the next resistance levels to consider testing are $0.55 and $0.6.
If a decline occurs, the closest support level is currently $0.35. If this level fails to provide support, the price may retract to $0.298, $0.229, or even possibly back to $0.18, before regaining bullish momentum.
Key Resistance Levels: $0.448, $0.55, $0.6
Key Support Levels: $0.298, $0.229, $0.18
Spot Price: $0.393
Trend: Bullish
Volatility: High
