Dogecoin (DOGE) Hints at 🤑Revival: Can It Defy The Odds?
Dogecoin (DOGE) has shown signs of recovery after a sharp drop toward the $0.2620 support against the US Dollar. Currently, DOGE is regaining momentum and could see further upside if it surpasses critical resistance levels. Key Highlights DOGE initiated a recovery wave above the $0.30 level.
The price is trading above $0.320 and holding steady above the 100-hourly simple moving average.
A break occurred above a bearish trend line with resistance near $0.3120 on the DOGE/USD hourly chart.
Based on the current technical analysis and Elliott Wave theory, Wave 3 seems to have concluded. The market now appears to be entering Wave 4, which could retrace to key Fibonacci levels. A retracement toward 88,000 (0.2 Fib level) or even 80,000 (0.3 Fib level) seems likely in the near term. The structure of Wave 4 will play a crucial role in setting the stage for what’s to come next. Monitoring price action at these levels is essential for identifying future opportunities.