Dogecoin Stuck at $0.115 Resistance? "If It Fails to Break Through Now, It's Headed for Hell"

▲ Dogecoin (DOGE)

Technical analysis suggests that for Dogecoin (DOGE) to put an end to its downtrend and lay the groundwork for a bullish reversal, it must first reclaim the $0.115 resistance level indicated by the Supertrend indicator.

According to crypto-focused media outlet The Crypto Basic on February 17 (local time), Dogecoin remains below key moving averages amid ongoing market uncertainty, extending its bearish phase. Analysts have identified the $0.115 level as a decisive turning point for overcoming short-term selling pressure and regaining upward momentum. This zone is currently acting as a strong technical resistance barrier, suppressing further price gains.

Chart analysis shows that Dogecoin is trading below both the 50-day and 200-day exponential moving averages (EMAs), indicating that the downtrend remains intact. Key auxiliary indicators, including the Relative Strength Index (RSI), also suggest weakened buying pressure, heightening concerns over additional downside risk. Unless DOGE breaks above the Supertrend resistance at $0.115, investor sentiment is likely to remain subdued for the time being.

If Dogecoin succeeds in breaking through the $0.115 resistance with strong trading volume, the next target price is projected to be around $0.13. Should robust buying pressure follow, there is an optimistic scenario in which the price could extend its gains toward the $0.15 range and enter a full-fledged rally. Analysts note that a breakout above the descending trendline must occur first to support expectations of a longer-term recovery.

On the other hand, failure to defend current levels could see Dogecoin retreat to the psychological support at $0.10. If the $0.10 level also collapses, the price may fall further to the next support zone near $0.09, potentially entering a prolonged consolidation phase to establish a new bottom. With market liquidity still constrained, the defense of key support levels is expected to be a critical factor in determining the medium- to long-term price direction.

Ultimately, Dogecoin’s trajectory is likely to depend on the broader cryptocurrency market’s resilience. If major assets led by Bitcoin (BTC) fail to regain stability, it may be difficult for Dogecoin, the leading meme coin, to mount an independent rebound. Investors are closely watching whether DOGE can break above $0.115 while seeking signs of a meaningful recovery in market demand.

Disclaimer: This article is for investment reference purposes only, and no responsibility is assumed for investment losses based on this information. The content should be interpreted solely for informational purposes.