Dogecoin is showing signs of a comeback after a recent dip, according to crypto analyst BitGuru. Let’s dive into the details.
Support Holds Steady
BitGuru’s analysis, looking at Dogecoin’s price action since March 2025, reveals an interesting pattern. The price dropped from $0.22, then bounced around $0.16-$0.17, rallied to almost $0.21, and pulled back again towards $0.16. The key here is the support around $0.155. Dogecoin has bounced off this level multiple times, suggesting it’s a strong support area. This area is significant because it was previously resistance, but now acts as support.
A Bullish Outlook?
BitGuru sees this pullback as bullish. If the $0.155 support holds, Dogecoin could climb to $0.17. This aligns with a previous resistance level that’s now acting as a potential hurdle for buyers. The overall price movement looks like a rounded retracement, often a precursor to another upward push. Breaking above $0.17 could even lead to a retest of the $0.18-$0.20 range.
What Could Go Wrong?
However, if Dogecoin can’t break through and falls below $0.155, the bullish outlook crumbles. This could trigger a significant drop, potentially down to $0.13 or even $0.11. Such a fall would erase all gains since October 2024. Essentially, the $0.155 level is crucial for Dogecoin’s short-term future.
