Here’s What Happens To The Dogecoin Price After The Consolidation Phase Ends

Dogecoin has been in a decline, struggling to surpass $0.19 and consolidating between $0.17 and $0.18. This consolidation follows failed attempts to recover losses from October, rejected at $0.205. Traders are monitoring this setup, anticipating a potential rally. Technical analysis reveals Dogecoin fluctuating within a narrow range, forming a support zone between $0.17 and $0.19. Buyers have consistently absorbed selling pressure at the lower boundary, preventing deeper corrections. This price action suggests accumulation, with investors building positions during low bullish momentum. A similar pattern preceded a spike to $0.26 in late September and early October. Analysts view the repeated defense of the $0.17 area as a sign of buyers regaining control. A break out of the consolidation zone could lead to a rally above $0.20, potentially reaching the mid-$0.20s. The target is a swift move above $0.2 to return to the early October level, around $0.27, possibly testing $0.3. A bullish bounce around $0.17 and a confirmed daily close above $0.20 with increasing volume are essential for this rally.