Strong rebound at $0.0029 zone signals renewed market interest
Dog (DOGUSDT) has staged a notable rebound after weeks of pressure, gaining more than 23% from its recent lows. The token is currently trading around $0.00305, showing resilience after defending a crucial support area. This development highlights the growing interest from buyers, especially as the market looks for stability following extended selling.
The 4-hour chart indicates that DOG recently broke out of a descending channel pattern, a structure that had kept the price under consistent downward pressure. After finding strong demand in the $0.0028–$0.0029 support region, the token has since regained momentum, suggesting accumulation by market participants.
“The rebound from $0.0029 is technically significant,”According to BITX market strategist. “As long as DOG continues to hold above this key support, buyers will eye the next resistance around $0.0038 to $0.0040. A breakout above this ceiling could confirm a shift in short-term trend strength.”
The chart also shows the importance of volume in this move. A surge in buy-side activity coincided with the bounce from support, underlining strong conviction from bulls. The highlighted green zone now serves as immediate support, while the broader brown area below represents the last line of defense near $0.0027.
While the 23% surge has energized sentiment, analysts caution that DOG must maintain momentum above $0.0030 to avoid another retest of lower levels. Failure to hold this zone could invite renewed selling pressure.
Looking ahead, market participants will be closely watching whether DOG can establish higher lows above $0.0029, which would strengthen the bullish case. A sustained move toward the $0.0040 resistance could act as a confirmation of a broader recovery phase.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.