DOGE News: Dogecoin Faces Strong Resistance at $0.20, Investors Eye $0.16 Support

Dogecoin (DOGE) Price Prediction: Will DOGE Retest $0.16?

The meme-inspired cryptocurrency Dogecoin (DOGE) has faced strong resistance at $0.20, preventing a breakout. Support at $0.16 remains crucial. With market volatility, investors are watching DOGE closely. The Bollinger Bands indicator shows $0.19 as a pivotal level. If the price falls below $0.1781, it could decline towards the $0.16 zone, a key support area to monitor.

Dogecoin Price Faces Whale Wall At $0.20—Reversal Possible?

Dogecoin price continues to fall in tandem with the market, following Bitcoin’s recent drop by 3%. Just recently the market had recovered lifting Dogecoin above the $0.19 mark after posting four straight intraday gains. Price has once again reversed in the favor of bears. Glassnode’s report suggested the meme coin faced a major resistance zone at $0.20 that stalled its recovery. Dogecoin has surged over 18% since March 22, gaining momentum from wider market optimism, but experts predicted intense resistance at the $0.20 price point. Major whale activity, along with increased selling pressure surrounding this level, has transformed it into an essential resistance point.

Dogecoin (DOGE) Remains Bullish with Potential to Hit $1

Dogecoin stays strong above the key support level of $0.178, maintaining its bullish trend. The uptrend remains intact, and a fall below $0.164 could signal a downturn. However, if momentum holds and resistance breaks, DOGE could rally to $1. DOGE has remained stable during recent market volatility, while Bitcoin retested its $84k support and brought other altcoins down. Several altcoins are struggling, but DOGE is on a bullish price trajectory despite a previous decline in value. At the time of writing, Dogecoin is trading at $0.180348 with a 24-hour trading volume of $3.10B and a market cap of $26.75B.