Market Direction

Dogecoin testing key $0.35 level

Published: Jan 31, 2025

Dogecoin ($DOGE) holds support at $0.30 and is testing resistance at $0.35. A breakout could push it to $0.40, but traders remain cautious. Can DOGE lead the meme rally?

Disclaimer: This is not financial or investment advice. You are responsible for any capital-related decisions you make, and only you are accountable for the results.

DOGE has once again held the major horizontal support at $0.30, and the price has bounced from there.
Price is attempting a breakout of its main downtrend line, as well as its local downtrend line.
The key level for the price to reclaim will be the horizontal resistance of $0.35. Beyond that, $0.39 is the main horizontal resistance.
The RSI is in the middle territory, but it's also now butting up into its moving average, which may become resistance.

7. DOGEUSDT daily candlestick chart with resistance and support levels, downward trend line, and RSI indicator suggesting potential movement.

Next Support: $0.30
Next Resistance: $0.35
Direction: Neutral/Bullish
Upside Target: $0.40
Downside Target: sub $0.30

Curious about DOGE's next move? Our DOGE price prediction offers a deep dive into market trends!

Cryptonary's take

Again, whilst we're sceptical of a major breakout, we're still watching intently. A breakout for DOGE above $0.35 would likely be mega and give other Alts/memes the fuel to run higher also. DOGE is also now the only major meme that's held its structure (it hasn't broken below key support of $0.30), whereas everything else (major memes-wise) has.

If DOGE can recover and break higher, that would be great for other memes. We're sceptical of a major breakout, and we think $0.35 might be a sticking zone for the price, but let's see how this unfolds over the weekend.