Dogecoin price eyes $0.15 support amid uncertainty, is further downside likely?
Dogecoin price faces renewed selling pressure at the $0.20 resistance, with weak volume suggesting a possible rotation toward the $0.15 support zone before the next move.
- $0.20 acts as major resistance and POC confluence.
- Weak volume suggests a pullback toward $0.15 support.
- Reclaiming $0.20 could trigger bullish continuation toward $0.26.
Dogecoin’s (DOGE) price action remains volatile as it struggles to reclaim the $0.20 resistance zone following a short-term bounce. This region aligns with the point of control (POC) and acts as a critical technical barrier for bullish continuation. Despite the recent rebound attempt, the underlying volume remains weak, raising the probability of a retracement toward the $0.15 support, a high-time-frame level that has yet to be retested in the current market cycle.
Adding to this, Thumzup Media Corporation has revealed plans to integrate Dogecoin into its ecosystem, a development that could potentially boost sentiment around the meme coin if successfully implemented.
Dogecoin price key technical points
- Major Resistance Zone: The $0.20 region aligns with the Point of Control and represents the main resistance area.
- Weak Volume: The current bounce lacks sufficient bullish volume, signaling limited momentum.
- Next Support Target: A move toward the $0.15 daily support may occur before accumulation begins.
From a technical standpoint, Dogecoin is trading within a pivotal structure between two significant price levels, the $0.20 resistance and the $0.15 support. The upper boundary at $0.20 remains a critical obstacle, coinciding with the POC and historical resistance, where several prior rejections have taken place.
Following a rejection from this level, price action is attempting to rotate higher, but the low volume accompanying this bounce suggests weak buyer conviction. This raises the probability of another downward move as Dogecoin seeks stronger liquidity at lower levels.
The $0.15 region serves as a key high-time-frame support that has not yet been tested, and a retest here would likely determine whether accumulation can begin.
The current market structure suggests that Dogecoin is positioned within a transitional range. While the $0.20 resistance remains unbroken, the market continues to exhibit signs of distribution rather than expansion. The key for bulls lies in generating enough volume to reclaim this zone and shift the structure toward bullish continuation.
A confirmed daily close above $0.20 with rising volume would signal the start of an impulsive move toward the next high-time-frame resistance near $0.26. Until then, the price remains range-bound, with risks tilted toward a short-term pullback to retest lower supports.
What to expect in the coming price action
If Dogecoin fails to reclaim the $0.20 resistance soon, the likelihood of a rotation toward $0.15 increases. This level is expected to act as a demand zone where accumulation could take place. A successful retest and rebound would open the probability of renewed momentum and potentially initiate a range breakout toward $0.26.
