Dogecoin (DOGE) is currently trading at $0.09330, up approximately 1.98% over the past 24 hours. The price showed initial weakness, dipping to around $0.0911, before sharply rebounding above $0.093. This volatility suggests buyers are defending the key support near $0.091. The recent upward momentum indicates growing short-term buying interest. If DOGE sustains above $0.0925, it could consolidate further, potentially targeting the next resistance near $0.094.
Dogecoin Holds Trendline, but Momentum Remains Weak
Dogecoin continues trading above the descending trendline near $0.09, maintaining a bullish structure according to Trader Targrade. Price has tested the trendline multiple times, showing consistent support around the $0.088 to $0.089 range. These repeated defenses suggest sellers are struggling to force a breakdown below the key structure. As long as DOGE holds above $0.088, the broader trend remains constructive. However, upside progress has been slow and lacks strong bullish conviction.
Momentum remains weak, with low volume and shallow bounces signaling limited buying demand. Recent candles show hesitation, indicating bulls are not yet in control. Trader Targrade points to $0.105 as immediate resistance that must break with volume. A clean move above $0.11 would improve continuation odds significantly. Failure to see demand could drag the price back toward $0.088 or lower support near $0.085.
Dogecoin Price Action Holds Key 0.236 Fibonacci Support at $0.093
Meanwhile, analyst Chad explains that Dogecoin closed the week above the 0.236 log Fibonacci level at $0.093, showing that buyers are attempting to defend this key support. Dogecoin price has tested this zone several times in recent sessions. This repeated interaction suggests it could form a base for a rebound if buying pressure strengthens. Holding this level is crucial to prevent further downside towards the $0.049 area, which represents the next major Fibonacci support.
From a technical standpoint, DOGE’s weekly price action indicates cautious optimism. The trend has remained mostly bearish in recent sessions. However, holding the 0.236 Fibonacci level could attract short-term buyers and help limit further losses. Traders will closely watch how the price reacts around this zone. A break below may signal renewed selling, while a sustained hold could point to consolidation before a potential upward move.
