Can Dogecoin (DOGE) Price Return Above $0.20? It Might Happen

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Dogecoin recently tested its crucial support level at $0.14 after a prolonged decline. A recent price increase has sparked optimism for a potential recovery above $0.20. While this is possible, several factors must align for DOGE to regain strength.

Following a significant support bounce, DOGE's price action suggests a temporary rally. The asset is approaching the $0.18 resistance level; breaking above this is crucial for sustained recovery. Continued buying pressure could push the price towards $0.20.

However, DOGE remains below key moving averages, and the overall trend is still bearish. A significant threat is the impending "death cross"—where the 50-day moving average crosses below the 200-day moving average. This bearish signal, if confirmed by sellers regaining control, could trigger further declines.

Should the death cross occur, DOGE may struggle to maintain upward momentum and could fall back to $0.14 or lower.

Key Levels:

• Immediate Support: $0.14 – Holding above this level is vital to prevent further losses.
• Resistance Levels: $0.18 and $0.20 – A decisive break above $0.20 could initiate a strong bullish move.

Bearish Scenario: Failure to break above $0.18 could lead to a retest of support and potentially further price drops.

For Dogecoin to escape its downtrend and return to sustainable growth, it needs significantly increased buying pressure and participation in a broader cryptocurrency market recovery. Negative sentiment surrounding the meme coin further hinders its progress.

Currently, DOGE trading volume is insufficient for a substantial recovery. Without increased demand, short-term rallies are likely to be fleeting and fail to translate into significant gains. Read original article on U.Today