Dogecoin is flashing early signs of a bullish recovery after finding footing from a recent pullback, according to technical observations shared by crypto trader BitGuru on social media platform X. The popular meme coin has seen heavy volatility in recent weeks, but fresh support around the $0.155 level could set the stage for another leg up. According to the analyst, the current price structure indicates that Dogecoin could be preparing for a move toward $0.17, as long as this support continues to hold.
Support Holds After Pullback As Market Attempts To Regain Momentum
The chart shared by BitGuru encompasses an analysis of Dogecoin’s price action since March 2025 on the 4-hour candlestick timeframe. Particularly, the chart shows the meme coin’s price tracing a familiar pattern: an initial downtrend from $0.22 at the beginning of the month, followed by consolidation between $0.16 and $0.17 in the middle of the month, and a sharp rally that topped near $0.21.
However, the price has since pulled back towards $0.16, and now the focus is on whether this correction has formed a healthy base for continuation. The healthy base is around the $0.155 region, which is proving to be a solid area of support, with Dogecoin managing to bounce off this level multiple times.
This consolidation zone between $0.16 and $0.17 aligns with a previous breakout area in late 2024, reinforcing its technical significance. Furthermore, the pullback towards $0.155 is into an area that previously acted as resistance, but has effectively been converted into a support level.
Bullish Price Structure Could Cause Push Dogecoin Toward $0.17
BitGuru’s observation centers on the belief that the price is undergoing a bullish pullback to establish a support level rather than a full reversal. If the $0.155 support stays intact, the market could resume its climb with $0.17 as the first major target. This level coincides with a minor resistance band that formed during the previous leg down and is now the next logical challenge for bulls.
The overall pattern appears to be forming a rounded retracement curve, which often precedes another push upward if market sentiment remains favorable. Interestingly, a breakout above $0.17 could open the door to a retest of the $0.18 to $0.20 zone before the end of the month. However, if Dogecoin fails to gain traction and dips back below the support, the bullish scenario will unravel, possibly leading to another bearish scenario.
The bearish scenario would most likely see Dogecoin lose support at $0.155 if there is too much selling pressure. In this case, the meme coin might open up a free fall towards $0.13 and $0.11 in the worst-case scenario. Such a move would essentially wipe out all of Dogecoin’s price gains since October 2024.
Featured image from Unsplash, chart from Tradingview.com
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