Dogecoin and several top meme coins have cooled off buying in the past week as the global crypto market undergoes a short correction. Amid a slight price recovery today, things are now looking positive on the day.

The past few days have seen Doge through a little suspense in buying after failing to push above the $0.48 level last week. Interestingly, the selling was intercepted and the price stayed above the $0.36 level.

That interception brought a small relief in the market and the price remained indecisive throughout yesterday. While volatility enhanced amid today’s recovery, the leading meme coin slightly regained strength and posted a little gain in the past hours.

Despite that, it still looks due for more correction. The bears are finding a key level to initiate drops from a technical standpoint. Another thing to consider for corrections is the daily volume indicator, which has been declining since the price entered the $0.43 range on November 12.

That said, Doge remained one of the top search crypto and most trending assets in the past few days following a 170% rally in the past month. The price is now looking strong again after holding the $0.35 level as support this week. That could spark another upsurge if the level holds well.

If Doge resumes bullish with the latest bounce, it must retake $0.40 with a surge through the monthly $0.48 high to $0.6. Breaking through its all-time $0.745 high, $1 would be the main target level to watch.

Losing the current holding support, mentioned above, the price may further retrace to the $0.298 support before finding a solid rebound level. The $0.229 and $0.18 supports are broader retracement levels to watch if the price dips.

Key Resistance Levels: $0.48, $0.6, $0.745

Key Support Levels: $0.35, $0.298, $0.229

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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Image Source: archnoi1/123RF // Image Effects by Colorcinch

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