• DOGE’s 50-day MA at $0.37128 meets 0.236 Fib level at $0.36689 – key confluence zone could spark the next major move.
• Daily active addresses show a 1.55 million peak in November, current stability suggests the smart money accumulation phase.

Dogecoin[DOGE] is gaining attention as it nears key resistance levels. It was trading at $0.37076, at press time, with bulls attempting to clear significant resistance.

Strong on-chain activity and building price momentum have many investors speculating about a breakout. The popular meme token’s price action and on-chain metrics suggest a complex setup that could determine its next major move.

Key levels DOGE must break

Dogecoin’s price has been trading near a significant resistance zone at $0.09, which has historically acted as a barrier.

The 50-day Moving Average(MA) at $0.37128 currently acts as dynamic resistance, while the 200-day MA at $0.20570 provides long-term support, indicating a strong overall uptrend despite recent consolidation.

DOGE’s price structure reveals critical resistance at the 0.236 Fibonacci level ($0.36689), with the next major hurdle at $0.39879 (0.0 Fib level). It represents the 61.8% and 78.6% levels of its previous price swing.

A clean break above these levels could set DOGE on a path toward the next psychological barrier.

Momentum indicators signal potential energy build-up

The Directional Movement Index (DMI) readings of 18.0543/22.8632/20.5726 suggest a neutral stance, while the Stochastic RSI at 65.95/53.34 indicates room for upside before overbought conditions.

This technical setup implies potential energy building for the next significant move, with key resistance at $0.

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Author: Adewale Olarinde