Dogecoin Struggles Below Key Resistance as Market Awaits Clear Breakout

Dogecoin (DOGE) remains stuck below a critical resistance level, struggling to confirm a breakout while most major cryptocurrencies push higher. Currently trading at $0.18 with a modest 1.76% intraday gain, DOGE lingers beneath the 26-day Exponential Moving Average (EMA)—a crucial technical barrier often signaling early trend reversals.

The 26 EMA, now at $0.18, sits just above Dogecoin’s price, preventing a decisive daily close above it. A successful break could pave the way for DOGE to target higher resistances at $0.21 and the 50-day EMA near $0.24. However, until a breakout is confirmed, the meme coin risks continued stagnation.

Despite rebounding from strong support at $0.15—established in mid-March—DOGE has underperformed compared to peers like Bitcoin, XRP, and Shiba Inu. These assets have recently cleared key EMAs or initiated bullish trend shifts, leaving Dogecoin trailing in momentum.

Technical indicators reinforce the uncertainty. The Relative Strength Index (RSI) sits at 48.57, showing a lack of clear bullish or bearish momentum. Meanwhile, trading volume remains low, suggesting traders are waiting for a stronger signal before reentering the market.

In derivatives markets, Dogecoin’s open interest has surged, surpassing 9.78 billion DOGE, hinting at growing investor interest. Still, without a definitive technical breakout, price action may remain muted.

For now, Dogecoin investors are watching closely as the asset battles to reclaim bullish ground. A clean break above the 26 EMA could reignite momentum, but until then, the market remains hesitant. DOGE’s next move could shape its short-term trajectory and determine whether it joins the broader crypto rally or continues to lag.