Dogecoin Shows Signs of Recovery After Correction
- Crypto analyst BitGuru recently pointed out that Dogecoin (DOGE) is starting to bounce back after its correction phase. The meme coin is holding steady near local support and appears to be forming a bullish pattern on the charts.
- Looking at the 4-hour chart, there’s a clear pattern emerging. After weeks of sideways trading, DOGE pulled back and went through another correction. Price settled into a range between roughly $0.18 and $0.22, and it’s now rebounding from the lower end of that range around $0.18–$0.19.
- The chart suggests a curved breakout path if buyers step in. According to BitGuru’s analysis, staying above $0.18 support could push DOGE to test resistance near $0.22, with a possible extension toward $0.25.
- This setup has traders feeling cautiously optimistic. Historically, Dogecoin’s long consolidation periods have often led to sharp moves up as liquidity builds before a new trend kicks in.
- But there’s a catch—if DOGE loses the $0.18 support level, the bullish scenario falls apart. That could send price tumbling back toward the $0.10 area, which marks the last major low on the chart.
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