Dogecoin is consolidating above the $0.2420 support zone. If DOGE price can settle above the $0.280 resistance zone, a surge is likely.

Dogecoin Price Aims for Key Upside Breakout

In February 2025, the price of Dogecoin continued to fall and fell below the support range of $0.30. The price broke through the support levels of $0.280 and $0.2650, and even fell below $0.220, and then the bulls appeared.

After that, the price made a rebound wave and managed to stabilize above the $0.240 pivot level. The price also surpassed the 23.6% Fibonacci retracement level of the downtrend formed from the $0.4336 high to the $0.2020 low.

Currently, Dogecoin is consolidating above the $0.240 level, similar to Bitcoin and Ethereum. However, it remains well below the 50-day simple moving average and $0.30.

If the bulls remain active, they might aim for a fresh rise. An immediate resistance above is near $0.2650. There is also a connecting bearish trend line in place on the daily chart with resistance at $0.2650.

The first major resistance is located near $0.280. If the price breaks through the $0.280 resistance clearly, it may set the stage for a strong upward move. The next key resistance is located near the $0.3180 area and the 50-day simple moving average, which is close to the 50$ Fibonacci retracement level from the $0.4336 high to the $0.2020 low.

If the price closes above the $0.3180 area and the 50-day simple moving average, it may accelerate upwards towards $0.3450. In the next few days, any further gains may push the DOGE price towards the $0.380 level.

DOGE faces rejection again?

Conversely, Dogecoin might not be able to break through the resistance of $0.2650 or $0.280. In such a case, the price might start to decline again. An immediate support below is located near $0.2420. The first major support is located near $0.240, below which the price might decline and test $0.220.

The next major support is located at $0.2020. If the bulls fail to hold the support at $0.2020, the price could decline to $0.1840 or even $0.1650 in the medium term.

Overall, DOGE is consolidating above $0.2420 and $0.240. To initiate a moderate up move, DOGE must break above the $0.2650 and $0.280 resistance levels in the near term. Otherwise, a revisit to the $0.220 support is likely.