Buyers Defend Demand Zone as Price Approaches Short-Term Resistance
The Dog Token (DOGUSDT) has staged an impressive rebound after testing its critical demand zone, rising to $0.00258 at press time. The token’s recovery comes following weeks of sustained selling pressure, with the market now eyeing a decisive move above immediate resistance levels.
The daily chart shows that DOG had previously been locked in a downward channel earlier this year, losing significant value before bottoming out in April. Since then, price action has attempted multiple recoveries, but strong supply between $0.0045 and $0.0055 has kept the market capped.
The latest bounce was fueled by buyers stepping in at the $0.0020–$0.0022 support zone, a level that has historically triggered accumulation phases. Volume also spiked during the rebound, suggesting renewed trader interest in the token.
“DOGUSDT has shown resilience around the $0.0020 mark, which continues to act as a strong base. A confirmed breakout above $0.0027 could open the door toward $0.0032 in the short term,” According to BITX analysts.
Technical Overview
- Current price: $0.00258 (-3.91% intraday)
- Immediate resistance: $0.0027–$0.0030
- Major supply zone: $0.0045–$0.0055
- Critical support: $0.0020–$0.0022
- Trend structure: Recovery phase after prolonged decline
The $0.0027 resistance will be closely watched in the coming days. A successful breakout above this level could encourage momentum buyers and potentially extend gains toward $0.0032. On the other hand, failure to hold above $0.0025 may bring prices back to test the $0.0022 support once again.
Market sentiment remains cautious but optimistic. While long-term resistance levels remain firmly in place, the repeated defense of the $0.0020 base underlines strong buyer conviction. If broader market conditions remain supportive, DOG could sustain its recovery and build momentum for a medium-term rally.
“Consolidation phases like this often precede larger moves. Traders should watch for sustained volume before confirming a breakout,” According to BITX strategists.
For now, DOGUSDT is stabilizing within a critical zone, with the next breakout likely to dictate its medium-term trajectory.
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.