Dogecoin’s price has rejected resistance near $0.30, triggering a corrective move back below the value area low. Despite this pullback, market structure remains bullish, with higher lows forming and strong confluence at support.
Summary
- $0.30 Resistance: Liquidity sweep led to rejection and correction.
- Support Zone: POC, VWAP, and 0.618 Fibonacci align at $0.27.
- Bullish Trend: Higher lows intact; structure favors continuation toward upside.
Dogecoin’s (DOGE) recent price action has highlighted the significance of the $0.30 level, where heavy resistance stalled bullish momentum. After briefly sweeping liquidity above the swing high, the price corrected lower, moving back below the value area low.
The launch of the Dogecoin ETF has been delayed again, disappointing the crypto community. While this might appear bearish at first glance, the overall market structure still favors the bulls. Consecutive higher lows remain intact, and confluence around key support levels suggests the correction is a natural part of Dogecoin’s bullish cycle.
Dogecoin price key technical points
- $0.30 Resistance: Strong rejection occurred after liquidity sweep above the swing high.
- Support Confluence: Point of control (POC), VWAP, and 0.618 Fibonacci create a high-volume support region.
- Bullish Structure: Higher lows continue to hold, framing the correction as part of a bullish trend.
Dogecoin’s rejection at $0.30 followed a liquidity event, with sellers overwhelming buyers at a significant resistance level. This caused the price to retrace below the value area low, a move that historically aligns with corrective phases. However, from a market-structure standpoint, the retracement is not alarming.
Support at $0.20, combined with the ETF boost, could trigger a breakout, with momentum potentially driving the price toward the $0.30 resistance zone. The broader trend of higher lows remains intact, and corrections of this scale are common following tests of value area highs.
The point of control sits in direct confluence with both VWAP support and the 0.618 Fibonacci retracement, creating a powerful technical cluster. This higher-volume region is especially important, as past consolidations around this zone indicate a strong base of support. A successful retest here could establish another higher low, paving the way for renewed momentum toward resistance.
Corrections into support zones are a hallmark of healthy bullish trends. For Dogecoin, this move reflects nothing more than another bullish selling event, resetting the market before continuation. Previous instances of value-high retests have also resulted in pullbacks, only for the price to later reclaim highs and push further.
If volume flows remain consistent, Dogecoin has room to rotate back toward $0.30 resistance and potentially expand beyond it. The critical factor will be whether support levels absorb selling pressure and attract fresh demand.
What to expect in the coming price action
As long as Dogecoin maintains support at the POC and the $0.27 high time frame base, the bullish market structure remains valid. Traders should watch for bullish volume inflows on each bounce from support, as this will confirm momentum for a move back toward $0.30 and potentially higher. A decisive reclaim of resistance would likely open the door for further expansion.
