Dogecoin is flashing early indicators of a bullish restoration after discovering footing from a current pullback, based on technical observations shared by crypto dealer BitGuru on social media platform X. The favored meme coin has seen heavy volatility in current weeks, however recent help across the $0.155 degree may set the stage for an additional leg up. In response to the analyst, the present value construction signifies that Dogecoin may very well be getting ready for a transfer towards $0.17, so long as this help continues to carry.
Support Holds After Pullback As Market Makes an attempt To Regain Momentum
The chart shared by BitGuru encompasses an evaluation of Dogecoin’s value motion since March 2025 on the 4-hour candlestick timeframe. Notably, the chart exhibits the meme coin’s value tracing a well-recognized sample: an preliminary downtrend from $0.22 in the beginning of the month, adopted by consolidation between $0.16 and $0.17 in the midst of the month, and a pointy rally that topped close to $0.21.
Nonetheless, the worth has since pulled again in direction of $0.16, and now the main focus is on whether or not this correction has fashioned a wholesome base for continuation. The wholesome base is across the $0.155 area, which is proving to be a strong space of help, with Dogecoin managing to bounce off this degree a number of occasions.
This consolidation zone between $0.16 and $0.17 aligns with a earlier breakout space in late 2024, reinforcing its technical significance. Moreover, the pullback in direction of $0.155 is into an space that beforehand acted as resistance, however has successfully been transformed right into a help degree.
Bullish Price Construction May Trigger Push Dogecoin Toward $0.17
BitGuru’s commentary facilities on the idea that the worth is present process a bullish pullback to ascertain a help degree fairly than a full reversal. If the $0.155 help stays intact, the market may resume its climb with $0.17 as the primary main goal. This degree coincides with a minor resistance band that fashioned throughout the earlier leg down and is now the subsequent logical problem for bulls.
The general sample seems to be forming a rounded retracement curve, which regularly precedes one other push upward if market sentiment stays favorable. Curiously, a breakout above $0.17 may open the door to a retest of the $0.18 to $0.20 zone earlier than the top of the month. Nonetheless, if Dogecoin fails to achieve traction and dips again under the help, the bullish situation will unravel, presumably main to a different bearish situation.
The bearish situation would more than likely see Dogecoin lose help at $0.155 if there may be an excessive amount of promoting strain. On this case, the meme coin may open up a free fall in direction of $0.13 and $0.11 within the worst-case situation. Such a transfer would primarily wipe out all of Dogecoin’s value positive factors since October 2024.
Featured picture from Unsplash, chart from Tradingview.com
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