Advertisement
AD

Main navigation

Dogecoin (DOGE) Lost Critical $0.20 Level: What's Next?

Thu, 27/03/2025 - 10:55
Dogecoin loses major threshold that makes things less attractive
Advertisement
Dogecoin (DOGE) Lost Critical $0.20 Level: What's Next?
Cover image via www.freepik.com

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Read U.TODAY on
Google News

Once again, Dogecoin finds itself at a crossroads as it is unable to maintain the critical $0.20 price level, a technical and psychological barrier that has long been used to define market sentiment. If buyers do not quickly recover lost ground, DOGE, which is currently trading at about $0.19, could potentially revert to a wider downward trend. DOGE had demonstrated encouraging strength over the previous few days, rising steadily and regaining temporary resistance.

Advertisement

Nonetheless, the rejection at $0.20 raises the possibility that upward momentum is waning. Losing it without significant follow-through casts doubt on the sustainability of the most recent rally because the region between $0.20 and $0.21 has historically served as a crucial consolidation and breakout zone. Now hovering just above the current price action, the 50-day Exponential Moving Average (EMA) is adding to the pressure.

Article image
DOGE/USDT Chart by TradingView

With its position close to $0.21, the 50 EMA may be a potent resistance level. With a meme coin like DOGE, where sentiment is prone to abrupt changes, failing to break above it could lead to additional profit-taking or even start a trend reversal. Conversely, the 26-day EMA has been a crucial support during DOGE's most recent upswing. 

Related

Advertisement

The local uptrend will continue as long as DOGE maintains its position above this short-term trendline, which is in the $0.18-$0.19 range right now. A retest of lower levels like $0.16 or even $0.14 could be possible if that support breaks, which would indicate the end of this recovery phase.

Given that the RSI is close to 53, DOGE is neither overbought nor in strong momentum territory, highlighting the market's current indecision.

To sum up, Dogecoin's short-term prospects depend on its capacity to recover and maintain the $0.20 level. Deeper corrections may result if this is not done, particularly when EMA resistance is present. A fresh upswing above $0.21, however, might turn the narrative bullish once more.

Advertisement
Subscribe to daily newsletter

Recommended articles

Latest Press Releases

Our social media
There's a lot to see there, too

Popular articles

Advertisement
AD