Dogecoin Tests Key Price Range Amid Analysts' Bullish Outlook

Dogecoin is currently testing a critical price level that could determine its short-term and long-term trajectory. Two prominent analysts, Cantonese Cat and ANBESSA, have aligned their technical analyses, highlighting a key price range between $0.1850 and $0.1950. This range has historically acted as both support and resistance, making it a pivotal point for the cryptocurrency's future movements.

Cantonese Cat's daily chart analysis, published on June 2, identifies a turquoise demand band stretching from $0.1850 to $0.1950. This band has played a crucial role in Dogecoin's price action since February, first acting as a support level in late February and then capping rebounds in March and April. After a four-day decline last week, three successive daily closes have occurred within this range, forming what Cantonese Cat refers to as a "trident bottom." This pattern suggests that Dogecoin is testing demand at this level, and the next daily close will be critical in determining whether the cryptocurrency can break above the upper edge of the band or slip below the lower edge.

ANBESSA's one-day schema, also dated June 2, provides a broader context for the current price action. The chart begins with the September 2024 spot entry at roughly $0.09 and follows an explosive rally that carried Dogecoin 413% higher. This move is annotated as 0.3892 on the graph. Following this rally, a three-wave retracement unwound 73% of the advance, followed by a counter-trend rally of 70.22% to $0.2597. According to ANBESSA, the current sell-off is a textbook correction to the 0.382 Fibonacci retracement of the entire move at $0.1412, intersecting both the rising parabolic guide-curve and the 99-day moving average.

Both analysts emphasize the significance of the twenty-cent neighborhood, as it contains the point of control (POC) just above $0.20, which is the deepest pocket of historical trading interest since 2024. Above this pivot, the next Fibonacci magnet is the 0.618 level at $0.2686, followed by an ascending trendline near $0.28. This region is dense with resistance, as another descending trendline drawn from the December-January highs sits around $0.29-$0.30. A successful break of this zone would project to the heavy-volume shelf at $0.3498 and, further out, the 0.786 retracement at $0.4245. Conversely, failure at the current confluence would expose the 0.382 retracement at $0.1412, with an intermediate control zone flagged on ANBESSA’s chart at $0.1625.

Momentum is currently neutral, with the Triple-MA ribbon (7-, 21-, 99-day) on ANBESSA’s chart compressed, and daily RSI hovering in the mid-40s. This indicates that price action alone will determine the next move. Both Cantonese Cat’s microstructure "trident" and ANBESSA’s macro-structure "throw-back" place the battleground inside the same cent band. Whether Dogecoin has printed its correction low will be revealed by what traders do—and just as crucially, where the next daily candle closes—in that $0.1850–$0.1950 corridor. At press time, DOGE traded at $0.196.