A number of attempts to break through the $0.11 mark have been met with rejection for Dogecoin, which has been experiencing strong resistance here. The market seems to be at a turning point as DOGE consolidates following its recent rally. Dogecoin may experience a decline to lower support levels if the price at $0.11 is consistently rejected.
DOGE may make another run at higher prices in the near future if buying pressure picks up. The amount of $0.105 is the first level that needs to be watched. In the last few sessions, this price has functioned as a support level.
DOGE/USDT Chart by TradingView
If Dogecoin is unable to maintain momentum above $0.11, this is the most likely area where the price may experience a brief respite. A break below $0.105 would indicate increased bearish sentiment, so holding above this level is essential to averting a deeper decline.
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The next crucial support to keep an eye on is $0.10, in the event that DOGE fails to hold onto $0.105 and is rejected at $0.11. This level has previously been a crucial floor in price action and has psychological significance. A wave of selling pressure could be generated if Dogecoin drops below the local resistance level, which would further drive the price down to lower levels.
The next resistance zone is at $0.125, and an important target to watch is $0.125 if DOGE is able to overcome the resistance at $0.11. This level denotes a zone of increased resistance where Dogecoin was rejected in August. In order to attract more buyers and create the conditions for DOGE to reclaim higher levels like $0.13 or even $0.14, a successful push above $0.125 could indicate a possible bullish reversal.
