Dogecoin Plunges 8% as Price Action Points to Brief Technical Bounces

💡 DMK Insight

Stabilization above $0.165 is more than just a number—it’s a psychological barrier for traders. If the asset can close above $0.18, it could signal a shift in momentum, potentially attracting more buyers and breaking the current bearish trend. Traders should watch for volume spikes around these levels, as increased activity could confirm a reversal. Conversely, failure to hold above $0.165 might trigger further selling pressure, leading to a test of lower support levels. Here’s the flip side: if the market sentiment remains bearish, even a close above $0.18 might not be enough to sustain upward momentum. Keep an eye on broader market trends and related assets, as they can influence price action significantly. For now, focus on these key levels and be ready to adjust your strategies based on how the price reacts in the coming days.