DOGE Price Eyes $0.1680 as Bulls Maintain Control

Dogecoin (DOGE) is showing bullish momentum heading into the weekend, gaining 0.88% in the last 24 hours and 5.24% over the past week, according to CoinStats. At the time of writing, DOGE is trading at $0.1647.

On the hourly chart, DOGE attempted a breakout above the $0.1650 resistance level but failed to hold. However, if the daily candle manages to close above this key zone, a move toward the next resistance at $0.1680 is likely. Technical indicators suggest increased volatility could follow such a breakout.

On the daily time frame, DOGE is trending toward the $0.1677 mark. Traders should watch whether today’s candle closes above yesterday’s high. A close above this level could signal further upward movement in the short term.

Looking at the broader picture, DOGE remains within the range of last week’s price bar, indicating consolidation. Volume continues to decline, which suggests that neither bulls nor bears are currently taking full control. This typically precedes a larger move but for now, signals a likely continuation of sideways trading around the current price level.

The market sentiment remains cautiously optimistic, with bulls holding a slight edge. A confirmed breakout above $0.1650 could shift momentum decisively in their favor, but for now, patience is key as the meme coin trades within a narrowing range.

Overall, Dogecoin’s price action indicates a potential test of higher resistance levels, but traders should remain alert to false breakouts amid low trading volume. If bulls sustain pressure, DOGE could soon revisit the $0.1680 zone.