Dogecoin price surges past $0.18, but key resistance levels could limit gains
Dogecoin trades near $0.181 as bullish momentum tests resistance zones
The Dogecoin price today has surged to around $0.181, continuing its upward trajectory after breaking above the $0.170 support zone. This shift marks a move toward bullish territory, with traders now focused on whether the momentum can be sustained or if a retracement may occur. The 30-minute chart shows a clear breakout above $0.176, with DOGE surpassing previous resistance levels and testing higher resistance zones.
However, the price faced resistance near $0.1820, suggesting that the rally may be approaching a pause. Traders are now closely watching the $0.185 resistance zone as the next critical hurdle. If Dogecoin can break above this level, the next target would be the $0.190 mark. On the downside, key support has shifted to around $0.1730, with $0.170 remaining a critical level for the continuation of the bullish trend.
DOGE price dynamics (April 2025 - May 2025) Source: TradingView.
Technical indicators signal strength, but caution remains
The recent surge in Dogecoin’s price can be attributed to solid technical indicators, with the RSI approaching overbought territory at 70.62, yet not signaling bearish divergence. This suggests that the momentum is still intact. The MACD’s positive crossover and expanding histogram further confirm the bullish momentum, and the Exponential Moving Averages (EMA) indicate a strong short-term uptrend. The 20-EMA is well above the 50-EMA and 100-EMA, reinforcing the bullish case.
However, as the price moves higher, traders are wary of potential overextension, especially with the RSI nearing 70. A close above $0.1820 would validate the current rally, opening the path to $0.1840–$0.1850. A failure to break through $0.185 could result in a pullback, with the next support zones at $0.1730 and $0.170 being key to maintaining the upward momentum.
Key levels to watch for DOGE
Looking ahead to May 9, the key levels for Dogecoin are $0.176 as support and $0.185 as resistance. A break above $0.185 could lead to further gains, with the next resistance zone targeting $0.190. On the flip side, a failure to hold above $0.1730 could result in a retracement back toward $0.170 or even lower levels at $0.164 and $0.160. Traders will continue to watch for confirmation candles and volume expansion to gauge the next directional move.
As previously discussed, Dogecoin has shown strong bullish momentum, but key resistance levels remain crucial for determining the sustainability of the rally. A break above $0.185 would signal a continuation, but failure to hold support at $0.1730 could spell a deeper pullback.
