Dogecoin is hovering near an important support area as selling pressure dominates the near-term trend. A recent update from More Crypto Online notes that DOGE remains trapped in a corrective pattern since November 2024, with October 10’s flash crash injecting volatility into the chart. Key downside targets and momentum signals suggest limited near-term upside.
Initial support sits around 9.6 cents, followed by deeper zones near 8.0 cents and 5.4 cents. The market has yet to show a durable bottom, keeping downside targets on the radar. Momentum remains negative, with DOGE trading inside a local downtrend channel. While some traders attempt to front-run reversals, doing so without confirmation adds risk to positions.
Analyst commentary notes resilient buy-the-dip activity, suggesting institutional buyers may be accumulating within the range and defending the current floor. With the price at a crossroads, a decisive move off support could trigger renewed downside unless buyers sustain a convincing bounce. However, until a strong reaction off the 9.6-cent level materializes, the market is likely to remain choppy and uncertain. In summary, DOGE remains at a critical support band as bears maintain short-term control, underscoring the risk of further losses while buyers watch for a momentum shift.
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