Dogecoin Price Dips Below $0.139 as Analysts Eye Breakout Targets at $0.153 and Above

6 hours ago 4

TLDR

Dogecoin price hit a 24-hour high of $0.1421 before declining to $0.1366 with a 2.32% daily loss.
The price attempted a recovery but failed to break above $0.140, forming lower highs during the session.
Dogecoin is trading near the upper boundary of a descending channel observed over several months.
Current price action sits above the 50-day moving average, suggesting a short-term momentum shift.
Analysts have outlined potential upside targets at $0.153, $0.182, $0.206, $0.240, and $0.280.

After recording a 24-hour all-time high of $0.1421, Dogecoin price retraced back near its all-time low. However, market analysts have hinted at a breakout from the descending channel, eyeing price extension up to $0.28.

Dogecoin Price Slides to $0.1366 After Failed Rebound Above $0.140

At the time of writing this article, Dogecoin is trading at $0.1366, representing a 2.32% decline over the past 24 hours. The Dogecoin price moved higher early in the session, reaching levels above $0.141 as this upward move formed a short-term peak.

Following the peak, Dogecoin price reversed direction and began a steady decline. The price dropped sharply, breaking below the $0.139 level. After the decline, Dogecoin price entered a brief consolidation phase with minor upward and downward fluctuations. Recovery was attempted, pushing the price back toward $0.140.

That rebound lacked strength and failed to hold above previous resistance levels. The Dogecoin price chart shows a sequence of lower highs forming after the rebound attempt. Dogecoin continued drifting downward toward the $0.136 range. The latest movement shows price stabilizing near session lows.

Dogecoin Holds Above Key Trendline as Price Presses Upper Channel

Despite a 2.23% dip in the last 24 hours, Dogecoin’s price is poised to reach new price levels. According to Jonathan Carter, the Dogecoin daily chart shows price action contained within a well-defined descending channel over several months. The structure reflects consistent lower highs and lower lows, confirming a sustained downtrend phase. Recently, the price moved toward the upper boundary of the descending channel.

The analysis indicates that the price is trading above the 50-day moving average, marking a shift in short-term momentum. Historical reactions along the channel boundaries define clear zones of support and resistance. The support zone has been held multiple times, preventing deeper declines during recent sessions.

Volume data appears steady, supporting the current price stabilization near the resistance level. The Dogecoin price chart marks an overhead resistance zone near previous highs. Several upside price levels are mapped above resistance, including $0.153, $0.182, $0.206, $0.240, and $0.280. These levels represent historical price reaction areas. The structure indicates price compression near resistance, reflecting reduced volatility before a directional expansion.