Dogecoin is consolidating near the key $0.10 daily support after months of decline from the $0.30 highs. A liquidity sweep may have cleared weak positions, and a base-building phase is forming at this crucial level. Analysts say this support could determine whether a reversal materializes.
The price action shows consolidation near the $0.10 zone, a level traders are watching closely. The meme coin has fallen sharply from its December highs near $0.30, and the extended decline pushed DOGE into oversold territory on higher timeframes. Yet, sustained consolidation at strong support often signals a shift in market behavior, suggesting the potential for a trend change if buyers defend this level.
From a technical perspective, continued stabilization near support can compress volatility, with volatility typically expanding in either direction once buyers prove resilient. If bulls defend the $0.10 zone, DOGE could attempt a recovery phase; a break below this support would weaken the bullish setup.
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