Dogecoin (DOGE) Bounces After 9.7% Drop as Buyers Defend $0.215 Level

The recent movement of Dogecoin shows the classic battle between Bears and Bulls, and after a significant descending downward trend, the stability of the meme cryptocurrency detects.

Coins experienced a decrease of 9.7% of $ 0.237 to $ 0.214 before the buyers entered key support. This shopping pressure has created what analysts describe as a “panic zone of repetition” around $ 0.215, which has so far firmly held against sales pressure.

The market structure shows that Doge is currently navigating a falling wedge formula, usually considered a bull reverse formation when it is broken on upside down.

The ichimoku cloud on short -term graphs shows the price stored in the equilibrium area, with multiple technical indicators converging to create tight reference levels between 0.212 and $ 0.225.

For traders, the immediate focus remains on whether DOGE can break over a descending trend resistance near $ 0.219-0.220. The decisive step above this level could focus on a range of 0.235-0.244 USD, while failure in possession of current support could retreat in the near future prices to $ 0.20 or even $ 0.185.

Emphasizing technical analysis

• DOGE created a descending channel with a clear resistance of $ 0.235, where the sale of pressure has constantly appeared.
• The remarkable support zone developed around 0.215-0.217 USD, confirmed by an increased volume within 13:00.
• The V -shaped formula was created with the lower part of $ 0.215 around 13:14, followed by stable accumulation.
• The volume increased significantly to more than 10 million units around 13:30, which triggered a sharp movement up.
• A new $ 0.218 support zone, with several high -volume candles confirming a strong purchase interest.
• The total price event indicates bearish momentum with a intermittent consolidation phase.

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