Dogecoin is showing early signs of recovery after finding solid support at the $0.155 level following a recent pullback. Crypto analyst BitGuru shared insights on social media, suggesting that this support level could set the stage for a potential move towards $0.17 if it continues to hold.
The meme coin has experienced heavy volatility recently, with its price dropping from $0.22 earlier in March to a consolidation range between $0.16 and $0.17. After a brief rally to $0.21, the price corrected towards $0.16. However, Dogecoin found a strong base around $0.155, where it has bounced multiple times.
This consolidation zone between $0.16 and $0.17 aligns with a previous breakout area, reinforcing its significance. The pullback to $0.155 is especially important as this level, once resistance, has now turned into support.
BitGuru believes that Dogecoin is undergoing a bullish pullback to establish a stronger base, not a complete reversal. If the $0.155 support holds, Dogecoin could push towards $0.17, a key resistance level. If Dogecoin breaks above $0.17, the next targets could be between $0.18 and $0.20 before the end of the month.
However, if selling pressure increases and the price drops below $0.155, the bullish outlook could quickly reverse, leading to further declines. In the worst-case scenario, Dogecoin could fall to as low as $0.13 or $0.11, wiping out gains made since October 2024.
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