Close Menu
CatchTheBullCatchTheBull
  • Home
  • Crypto News
  • Bitcoin
  • Altcoin
  • Blockchain
  • Airdrops News
  • NFT News
What's Hot

Floki Inu Partners with Method to Expand Valhalla to MMO Fans

June 28, 2025

US House Passes Crypto Bill To Promote Blockchain Adoption

June 28, 2025

Is This the Next Dogecoin Killer?

June 28, 2025
Facebook X (Twitter) Instagram
Facebook X (Twitter) Instagram
CatchTheBullCatchTheBull
  • Home
  • Crypto News
  • Bitcoin
  • Altcoin
  • Blockchain
  • Airdrops News
  • NFT News
CatchTheBullCatchTheBull
Bitcoin

Analyst Reveals The Channel That Is Holding Price Back From Reaching $0.3

By WebDeskJune 8, 20253 Mins Read
Analyst Reveals The Channel That Is Holding Price Back From Reaching alt=
Share
Facebook Twitter LinkedIn Pinterest Email

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Dogecoin’s recent price movement has been characterized by a prolonged downtrend from $0.25 since late May. For most of the last seven days, Dogecoin hovered just above the $0.18 mark, unable to generate any meaningful upward movement. However, within the last 24 hours, the price dipped below this level, momentarily breaching support before rebounding off the $0.17 zone.

The $0.17 price point is significant for Dogecoin, as it serves as a daily support level within a descending channel that has been suppressing the meme coin’s price action since December 2024.

Channel Suppressing Dogecoin Price, But Not For Long

According to crypto analyst MMBTrader, Dogecoin’s price action has been confined to a descending channel that has consistently limited every upward attempt since the start of the year. The resistance along the upper boundary of this channel has repeatedly rejected Dogecoin’s rally attempts, forcing it back into a lower high each time. However, the analyst believes this pattern may be nearing its end. 

The chart shared by MMBTrader shows Dogecoin is now on the path to testing the upper resistance of the descending channel once again. If the memecoin succeeds in breaking this pattern this time, it could trigger a heavy pump toward higher price levels. However, the current price action indicates that Dogecoin must first hold above the support level around $0.17. 

DOGE is currently trading at $0.18. Chart: TradingView

Away from this support level, Dogecoin also needs to break above the immediate resistance at $0.205 with enough conviction. Beyond that, a push towards $0.23 will be enough to break above this descending channel.

Upside Targets Stretch Toward $0.3 And Beyond

The chart above shows a speculative trajectory outlined in green. This trajectory illustrates a breakout above $0.205 and $0.23, followed by a march toward the support-turned-resistance level of $0.3. However, the breakout scenario hinges on Dogecoin clearing both the channel resistance and holding above the significant support at $0.17. 

The current setup indicates that a successful breakout above the descending channel could signal the beginning of an intense momentum wave. If this breakout is successful, the analyst points toward bullish long-term targets of $0.75 and $1, should the price manage to close firmly above the $0.40 zone. 

In the meantime, Dogecoin’s journey to new all-time highs looks very weak. At the time of writing, Dogecoin is trading at $0.1852, up by 5.2% in the past 24 hours. Trading volume is approximately $1.01 billion, representing a 50% reduction within the same timeframe. This divergence between price recovery and volume contraction indicates that buying conviction is still weak.

Even so, Dogecoin’s support around $0.17 continues to hold firm. As long as Dogecoin is trading above this price level, a break above the descending channel is still in play.

Featured image from Unsplash, chart from TradingView

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.

Credit: Source link

Previous ArticleAI-Powered Tool Revolutionizes Detection of Ghost Fishing Nets
Next Article Deutsche Bank Looks Into Stablecoins for Digital Upgrade

Related Posts

US House Passes Crypto Bill To Promote Blockchain Adoption

June 28, 2025

Cango Finalizes 18 EH/s Mining Acquisition, Surpasses 50 EH/s as Antalpha Ties Deepen

June 28, 2025

Stablecoin Skepticism Grows As IMF Official Challenges Their Money Role

June 28, 2025
Add A Comment
Leave A Reply Cancel Reply

Top Posts

Floki Inu Partners with Method to Expand Valhalla to MMO Fans

June 28, 2025

US House Passes Crypto Bill To Promote Blockchain Adoption

June 28, 2025

Is This the Next Dogecoin Killer?

June 28, 2025

Subscribe to Updates

Get the latest Crypto, Blockchain and Airdrop News from us to Catch The Bull.

Advertisement Banner

Welcome to CatchTheBull, your trusted source for the latest Crypto News and Airdrops. We bring you real-time updates, expert insights, and opportunities to stay ahead in the crypto world. Discover trending projects, market analyses, and airdrop details all in one place.

Join us on this journey to navigate the ever-evolving blockchain universe!

Facebook X (Twitter) Instagram YouTube
Top Insights

Analyst Spots Bitcoin Time Bomb Hidden In Bullish Weekly Chart

Ripple Drops Its Cross Appeal and Anticipates U.S. SEC to Cooperate

Coinbase Stock Hits All-Time High

Get Informed

Subscribe to Updates

Get the latest Crypto, Blockchain and Airdrop News from us to Catch The Bull.

© 2025 CatchTheBull. All Rights Are Reserved.
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA

Type above and press Enter to search. Press Esc to cancel.

  • bitcoinBitcoin(BTC)$107,374.000.35%
  • ethereumEthereum(ETH)$2,428.14-0.75%
  • tetherTether(USDT)$1.000.00%
  • rippleXRP(XRP)$2.194.93%
  • binancecoinBNB(BNB)$646.570.21%
  • solanaSolana(SOL)$147.333.66%
  • usd-coinUSDC(USDC)$1.000.00%
  • tronTRON(TRX)$0.2762661.71%
  • dogecoinDogecoin(DOGE)$0.1623451.19%
  • staked-etherLido Staked Ether(STETH)$2,426.77-0.68%
  • cardanoCardano(ADA)$0.560.96%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$107,176.000.27%
  • HyperliquidHyperliquid(HYPE)$36.880.49%
  • Wrapped stETHWrapped stETH(WSTETH)$2,929.25-0.68%
  • bitcoin-cashBitcoin Cash(BCH)$495.08-0.11%
  • suiSui(SUI)$2.722.37%
  • chainlinkChainlink(LINK)$13.110.56%
  • leo-tokenLEO Token(LEO)$9.080.41%
  • avalanche-2Avalanche(AVAX)$17.691.32%
  • stellarStellar(XLM)$0.2379461.46%
  • USDSUSDS(USDS)$1.000.00%
  • the-open-networkToncoin(TON)$2.83-0.13%
  • whitebitWhiteBIT Coin(WBT)$46.71-1.10%
  • shiba-inuShiba Inu(SHIB)$0.0000111.62%
  • WETHWETH(WETH)$2,428.37-0.71%
  • litecoinLitecoin(LTC)$85.421.24%
  • Wrapped eETHWrapped eETH(WEETH)$2,599.65-0.70%
  • Binance Bridged USDT (BNB Smart Chain)Binance Bridged USDT (BNB Smart Chain)(BSC-USD)$1.000.02%
  • hedera-hashgraphHedera(HBAR)$0.1472871.58%
  • moneroMonero(XMR)$311.791.71%
  • bitget-tokenBitget Token(BGB)$4.651.07%
  • Ethena USDeEthena USDe(USDE)$1.000.04%
  • polkadotPolkadot(DOT)$3.361.46%
  • Coinbase Wrapped BTCCoinbase Wrapped BTC(CBBTC)$107,383.000.30%
  • uniswapUniswap(UNI)$7.001.75%
  • Pi NetworkPi Network(PI)$0.53-4.18%
  • pepePepe(PEPE)$0.0000090.96%
  • aaveAave(AAVE)$254.99-2.13%
  • daiDai(DAI)$1.000.00%
  • Ethena Staked USDeEthena Staked USDe(SUSDE)$1.180.03%
  • aptosAptos(APT)$4.75-5.81%
  • okbOKB(OKB)$50.110.89%
  • BittensorBittensor(TAO)$326.262.57%
  • BlackRock USD Institutional Digital Liquidity FundBlackRock USD Institutional Digital Liquidity Fund(BUIDL)$1.000.00%
  • Jito Staked SOLJito Staked SOL(JITOSOL)$178.653.78%
  • nearNEAR Protocol(NEAR)$2.111.36%
  • internet-computerInternet Computer(ICP)$4.72-0.03%
  • crypto-com-chainCronos(CRO)$0.0810140.29%
  • ethereum-classicEthereum Classic(ETC)$16.140.49%
  • sUSDSsUSDS(SUSDS)$1.060.02%
  • bitcoinBitcoin(BTC)$107,374.000.35%
  • ethereumEthereum(ETH)$2,428.14-0.75%
  • tetherTether(USDT)$1.000.00%
  • rippleXRP(XRP)$2.194.93%
  • binancecoinBNB(BNB)$646.570.21%
  • solanaSolana(SOL)$147.333.66%
  • usd-coinUSDC(USDC)$1.000.00%
  • tronTRON(TRX)$0.2762661.71%
  • dogecoinDogecoin(DOGE)$0.1623451.19%
  • staked-etherLido Staked Ether(STETH)$2,426.77-0.68%
  • cardanoCardano(ADA)$0.560.96%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$107,176.000.27%
  • HyperliquidHyperliquid(HYPE)$36.880.49%
  • Wrapped stETHWrapped stETH(WSTETH)$2,929.25-0.68%
  • bitcoin-cashBitcoin Cash(BCH)$495.08-0.11%
  • suiSui(SUI)$2.722.37%
  • chainlinkChainlink(LINK)$13.110.56%
  • leo-tokenLEO Token(LEO)$9.080.41%
  • avalanche-2Avalanche(AVAX)$17.691.32%
  • stellarStellar(XLM)$0.2379461.46%
  • USDSUSDS(USDS)$1.000.00%
  • the-open-networkToncoin(TON)$2.83-0.13%
  • whitebitWhiteBIT Coin(WBT)$46.71-1.10%
  • shiba-inuShiba Inu(SHIB)$0.0000111.62%
  • WETHWETH(WETH)$2,428.37-0.71%
  • litecoinLitecoin(LTC)$85.421.24%
  • Wrapped eETHWrapped eETH(WEETH)$2,599.65-0.70%
  • Binance Bridged USDT (BNB Smart Chain)Binance Bridged USDT (BNB Smart Chain)(BSC-USD)$1.000.02%
  • hedera-hashgraphHedera(HBAR)$0.1472871.58%
  • moneroMonero(XMR)$311.791.71%
  • bitget-tokenBitget Token(BGB)$4.651.07%
  • Ethena USDeEthena USDe(USDE)$1.000.04%
  • polkadotPolkadot(DOT)$3.361.46%
  • Coinbase Wrapped BTCCoinbase Wrapped BTC(CBBTC)$107,383.000.30%
  • uniswapUniswap(UNI)$7.001.75%
  • Pi NetworkPi Network(PI)$0.53-4.18%
  • pepePepe(PEPE)$0.0000090.96%
  • aaveAave(AAVE)$254.99-2.13%
  • daiDai(DAI)$1.000.00%
  • Ethena Staked USDeEthena Staked USDe(SUSDE)$1.180.03%
  • aptosAptos(APT)$4.75-5.81%
  • okbOKB(OKB)$50.110.89%
  • BittensorBittensor(TAO)$326.262.57%
  • BlackRock USD Institutional Digital Liquidity FundBlackRock USD Institutional Digital Liquidity Fund(BUIDL)$1.000.00%
  • Jito Staked SOLJito Staked SOL(JITOSOL)$178.653.78%
  • nearNEAR Protocol(NEAR)$2.111.36%
  • internet-computerInternet Computer(ICP)$4.72-0.03%
  • crypto-com-chainCronos(CRO)$0.0810140.29%
  • ethereum-classicEthereum Classic(ETC)$16.140.49%
  • sUSDSsUSDS(SUSDS)$1.060.02%