Dogecoin Holds $0.22 Support, Targets $0.28 Reversal
Dogecoin price consolidates at the $0.22 zone, the point of control in its $0.15–$0.28 range. This support aligns with the 0.618 Fibonacci retracement and a key daily level. Dogecoin maintains its bullish market structure with higher highs and higher lows. Institution-focused developments, including 21Shares’ Dogecoin ETF (TDOG) listing on NSCC and REX-Osprey’s U.S. spot ETFs for DOGE and XRP, could boost demand. For a reversal toward $0.28, traders need to see a bullish engulfing candle or strong volume inflows. If $0.22 support fails, Dogecoin price may drop to test the $0.15–$0.20 region. Volume and price action will be critical for confirming the next move.
Bullish
The confluence of the $0.22 point-of-control, 0.618 Fibonacci retracement and daily support creates a strong technical base for Dogecoin. The intact bullish structure—marked by higher highs and higher lows—combined with institutional catalysts such as the listing of TDOG and REX-Osprey spot ETFs, suggests upward pressure. Historically, rebounds from major volume nodes have led to swift rallies in altcoins. In the short term, confirmation via bullish engulfing candles or elevated volume could trigger a move toward $0.28. Over the long term, sustained support and growing institutional interest would reinforce a bullish trend, although failure to hold $0.22 may invite a deeper correction.