Dogecoin Faces Volatility as Price Swings 12.7%, Signals Possible Recovery Amid Market Stress

After a wild 12.7% price swing, Dogecoin (DOGE) is showing signs of stabilization with a potential recovery pattern taking shape. Amid heightened volatility in the broader cryptocurrency market, DOGE has found some strength following a sharp decline, bouncing back from a local low of $0.156 to steady around $0.158.

Recent Price Action: V-Shaped Recovery

In the final 100 minutes of trading, DOGE demonstrated a sharp V-shaped recovery, suggesting that buyers have stepped in to defend the $0.156 support level. The volume spikes, ranging between 16 million and 21 million DOGE during the dip around 14:50-14:52, indicate strong interest in purchasing at lower price levels, contributing to the recent recovery.

However, resistance is seen in the $0.158-$0.159 zone, where selling pressure appears to be easing. This price action aligns closely with the 38.2% Fibonacci retracement level from the recent decline, signaling that DOGE could continue higher toward the 50% retracement at $0.160 if momentum holds.

Technical Indicators Highlight Key Levels for DOGE

• Price Range: DOGE has fluctuated between $0.179 and $0.156, marking a significant 12.7% price swing.
• Volatility: The 48-hour annualized volatility stands at an impressive 86.3%, indicating a sharp increase in price fluctuations.
• Support and Resistance: A critical support zone has formed between $0.158 and $0.160, with resistance near $0.158-$0.159.
• Fibonacci Levels: The current price action is testing the 38.2% Fibonacci retracement, with potential to reach the 50% level at $0.160.
• Volume Analysis: There was a notable increase in volume during the recovery phase, with strong buying interest indicating market confidence at lower levels.
• Recovery Pattern: The V-shaped recovery is a positive sign, suggesting that DOGE could continue its upward movement if it holds support.
• Retracement Levels: The price is bouncing from the 38.2% retracement level and may move toward the 50% level at $0.160 if bullish momentum persists.

Dogecoin’s recovery, despite the sharp price swings, is drawing attention from traders watching for the next key breakout. With critical support forming and decreasing selling pressure at resistance, DOGE may continue its rebound, with a potential move toward $0.160 in the near term.

Disclaimer: This article was generated with AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy. This article may include information from external sources, which are listed below when applicable.

External References:

• Times Tabloid, “Dogecoin (DOGE) Next Significant Rally? 7 Critical Levels to Watch,” accessed Apr. 3, 2025
• Bitzo, “Market Weakness Strikes: Are DOGE, SHIB Set to Recover in April?” accessed Apr. 3, 2025
• Times Tabloid, “Dogecoin (DOGE) at a Critical Turning Point as Key Levels Dictate Its Next Move,” accessed Apr. 3, 2025
• Coinpedia, “Will Dogecoin (DOGE) Crash or Skyrocket?,” accessed Apr. 3, 2025
• Finbold, “Anxiety Grips Dogecoin Holders as Major Sentiment Flips Into Bear Territory,” accessed Apr. 3, 2025