What you need to know:
- Dogecoin (DOGE) is trading at $0.09803, entering a historically strong support zone for a potential recovery.
- Momentum indicators such as MACD and RSI are signaling early signs of recovery after recent volatility.
- Analysts predict a short-term target of $0.34 and a longer-term target of $0.60 if bullish trends continue.
Dogecoin (DOGE) is trading at $0.09803 on Sunday, February 8, entering a historically important support zone that has previously led to strong rebounds. according to to crypto analyst Hailey LUNC.
Experts are keeping a close eye on this level as early momentum suggests a potential short-term bounce towards $0.34, with Hailey LUNC suggesting a long-term target near $0.60 if bullish momentum continues.
Source: Hailey LUNC 10 Post
Investors are closely watching this entry zone as it could serve as a pivotal moment for short-term trading in the 2026 crypto market.
While previous cycles point to potential upside, gains depend on broader market conditions and the confirmation of momentum signals.
Also Read: Dogecoin Sees Strong Momentum in Q1 as SpaceX DOGE-1 Buzz Revives Market Sentiment
Dogecoin (DOGE) Price Battle Among Major EMAs
According to TradingView, as of Sunday, February 8, DOGE’s price has been trending lower since late January, with lower highs and lower lows.
Significant price drops were observed between February 5 and 6, causing the Bollinger Bands to spread and exhibit high volatility.
The price also moved to the lower band, showing that it was oversold at the time. The price is currently consolidating around $0.098, which could indicate a possible recovery.
Source: Trading view
Furthermore, the DOGE is currently trading below all the major EMAs, with the 20 EMA acting as resistance in the short term.
The other EMAs namely the 50 EMA, the 100 EMA and the 200 EMA are trading above the price of the asset which is bearish in nature. The asset’s small upward moves fail to stay above the 20 EMA.
DOGE momentum indicators signal recovery phase
Currently, the Relative Strength Index (RSI) is around 48, which is just below the midpoint of 50. This is an indication that there is a lack of strong momentum in the direction of markets becoming overbought or oversold.
In other words, momentum is in balance and could continue to move in the same direction or even reverse depending on changes in overall sentiment.
Source: Trading view
The MACD indicator shows the MACD line above the signal line, with small positive histogram bars, indicating slight bullishness in the token.
The chart shows that Dogecoin is in the recovery phase after the sharp decline, but it is encountering resistance at the $0.10 price, indicating that the asset is showing signs of optimism rather than a breakout.
Also read: Dogecoin ready for a jump: resistance from $0.115–$0.470 in sight
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