Dogecoin forms potential double bottom at $0.12; reclaim of POC could target $0.15
Dogecoin (DOGE) is showing early signs of stabilization after extended downside, forming a potential double-bottom around the key long-term support at $0.12. Multiple reactions into the $0.12–$0.13 area point to seller exhaustion and weakening downside momentum. Critical levels: $0.12 is the high-time-frame support and base of the possible double bottom; the Point of Control (POC) and the Value Area / Value Area High (VAH) serve as the first major resistance nodes to reclaim; $0.15–$0.17 are the next upside targets if bulls regain structural control. DOGE currently trades below the Value Area, indicating it remains beneath fair value until it closes back above that zone. Volume is the decisive signal: expanding bullish volume on reclaim attempts and impulsive bullish candles would increase the probability of a rotation toward the POC and the $0.15 target (and potentially $0.17 aligned with VAH and prior resistance). Failure to reclaim the POC or weak volume would likely keep DOGE consolidating above $0.12 or lead to continued sideways action rather than an immediate rally. Short-term outlook: cautiously bullish while buyers defend $0.12 and volume supports moves; longer-term trend remains uncertain until DOGE reclaims the POC and Value Area on a closing basis. Traders should watch for a clean POC reclaim with rising volume as confirmation, and monitor broader crypto market sentiment (notably BTC) which can sway outcomes.
Bullish
The combined reports point to a cautiously bullish setup for DOGE. Multiple tests of the $0.12–$0.13 support area and the formation of a potential double bottom suggest seller exhaustion and reduced downside momentum. The bias turns more constructive if DOGE reclaims the Point of Control (POC) and the Value Area on increasing volume — that would confirm demand and likely trigger a rotation toward the next resistance zones ($0.15 and then $0.17). In the short term, traders can adopt a cautiously bullish stance while $0.12 holds and volume supports upward attempts, using a reclaim of the POC with rising volume and impulsive candles as a clear entry confirmation. Conversely, failure to reclaim the POC or weak volume would keep price in sideways consolidation and raise the risk of renewed downside; therefore risk management and attention to market-wide drivers (especially BTC) remain essential. Overall, the news increases the probability of an upside move but requires specific confirmations (POC reclaim + volume) to be actionable.