Dogecoin Approaches Key $0.28 Resistance Zone With Potential for Rally Toward $0.42 Targets

Key Points

1. Dogecoin is testing the crucial $0.25–$0.28 resistance zone, supported by a surge in trading volume exceeding $1.6 billion.

2. A double-bottom pattern near the $0.25–$0.28 zone and a rising MACD indicator signal a potential bullish reversal.

3. Breaking above $0.28 could lead to price targets of $0.36 and $0.42, reinforcing the bullish outlook.

4. Failure to sustain momentum above $0.28 may result in a retracement toward the $0.21–$0.22 support range.

5. The 200-day exponential moving average (EMA) at $0.2041 highlights strong buyer conviction.