- DOGE struggles below $0.162 as sellers block gains despite rising trading volume
- MACD crossover and RSI uptick signal growing bullish momentum for Dogecoin
- Key support at $0.1570 holds firm, offering a potential base for next DOGE rally
Dogecoin (DOGE), the popular meme-inspired cryptocurrency, continues to show signs of indecision as it trades just below the $0.162 resistance. On April 22, the coin saw both upward and downward movement, reflecting market uncertainty. Despite a slight 1-day dip of 0.24%, technical indicators hint at the possibility of a bullish reversal.
However, DOGE must first overcome critical resistance levels and maintain momentum. As traders prepare for April 23, all eyes are on the $0.162 mark, which has proven to be a tough ceiling. Let’s take a closer look at the current setup and what could drive price action next.
Key Support and Resistance Levels to Watch
The price hovered around $0.1614 after briefly climbing above $0.162 before pulling back. This shows that sellers are still active at higher levels. The strongest resistance remains near $0.1620.
Any sustained move above this could open the door to fresh gains. There’s also minor resistance around $0.1618, tested during early trading but not breached convincingly.
On the downside, DOGE found firm support at $0.1570 the day’s lowest point. Buyers stepped in aggressively here, preventing further losses. Another key level lies near $0.1590, where price rebounded multiple times. These zones will be crucial if the price faces renewed selling pressure.
Besides price levels, volume gives us more insight. Dogecoin’s 24-hour trading volume climbed to $927.34 million, up 7.56%. This suggests growing interest, even as the price remains range-bound. The volume-to-market cap ratio stands at 3.86%, indicating healthy but not excessive activity.
Technical Indicators Hint at Recovery Potential
Technically, the MACD indicator shows a weak but confirmed bullish crossover. The MACD line has crossed above the signal line, and the histogram is widening slightly. This suggests growing momentum, though the strength of the move remains modest for now.
Moreover, the RSI indicator currently sits at 48.57. It’s rising from lower levels, signaling a shift away from bearish territory. If the RSI moves above 50, bulls may gain stronger control, potentially pushing the price higher.
