Dogecoin Reclaims $0.19 Support Level, Gains 14% in Week

Dogecoin has recently shown resilience by reclaiming the $0.19 support level, which has shifted the market structure and put the $0.25 range back into focus. Over the past week, Dogecoin experienced a 14% gain, although it has since declined by about 8% in the last 24 hours. The bounce from $0.19 is seen as a significant shift, as this level had previously acted as resistance during May and early June. The daily chart indicates that Dogecoin is forming a new short-term trend of higher lows, with the price bouncing from the lower end of a visible trading channel.

Analyst Ali suggests that as long as Dogecoin holds above the $0.19 support, it may continue to target the $0.25 range. A sharp increase in volume could push the price toward the upper end of this range. However, if momentum fades, a drop back below $0.19 would break the current structure. Another key area to watch is the $0.213 level, which analysts say needs to break and close above for the current move to extend. If this happens, traders may look toward higher areas like $0.34 and $.48. A failure to clear $0.213 could lead to a return toward the $0.186–$0.182 zone.

The Bollinger Bands indicate that Dogecoin is near the upper band, suggesting elevated volatility and upward pressure. The price is still trading above the 20-day simple moving average, which acts as a local support. The Relative Strength Index (RSI) on the daily chart sits near 58, a neutral level. This may allow for more upside if demand picks up, but a drop in momentum could bring a short-term pause. Data from Glassnode indicates that there are 68,268 active DOGE addresses as of July 14, suggesting increased user activity following significant price fluctuations.