Dogecoin has again reached a critical price zone in the cryptocurrency market. Recently, two different chart analyzes draw attention, in which both downward pressure and recovery hopes continue. While Dogecoin, the biggest meme coin, is having difficulty passing the $0.118 level, which has played an important role historically, the region between $0.07 and $0.10 once again stands out as the main support in the upcoming sales.
Long-Term Channel Pressure and Possible Pullback
According to the TradingView-based chart of Crypto Patel, who actively shares his analysis on the X platform, Dogecoin is trading inside a long-term falling channel. This structure has shaped the price movement in past market cycles, and every rejection from the upper zone of the channel has resulted in sharp pullbacks. In the last case, the price is again trending close to the resistance area of the channel.
On the chart, especially the region between $0.08 and $0.10 stands out as a strong resistance. The expert explains the importance of this region as the Dogecoin price has not been able to exceed this level cleanly in recent attempts.
The chart also indicates that Dogecoin could move downwards again before a major recovery. Crypto Patel defines the range between $0.10 and $0.07 as the “accumulation zone” and states that possible sales can be met here.
However, the same analysis emphasizes that long-term targets of $1, $2 and $5 are technically still on the table. However, achieving these goals depends on Dogecoin being able to maintain its large-scale market structure and exit the falling channel.
In general, a picture emerges that bearish risks continue as well as bullish signals. Although downward pressures are evident in the short term, the lower support line is being carefully watched for recovery.
Fibonacci Barriers in the Short and Medium Term
According to another analysis based on the weekly chart shared by Surf on X, Dogecoin largely maintains its recovery structure. Dogecoin, which broke above the descending trend line after an extended correction, is currently testing the 0.618 Fibonacci level at $0.118, which is the main short-term resistance.
On the same chart, the 0.786 Fibonacci level around $0.080 stands out as a strong support zone. This area remains critical as it formed the base point in the recent correction.
The weekly RSI (relative strength index) panel also shows that the long-term falling trend has been broken upwards. This provides some support to momentum after months of weakness. However, it is emphasized that the price needs permanent attacks on resistance in the short term.
In other noteworthy analyses, it is evaluated that the current image is in the form of a healthy correction in which the structure is not distorted. If Dogecoin manages to clear above $0.118, the recovery process may gain momentum. Otherwise, there is a risk that the price will fall back to $0.080 levels.
Both analyzes highlight that technical indicators are indecisive for Dogecoin, but movements on the main price zones will be decisive.
