Analysis: Can Dogecoin Break Above 50-Day Exponential Moving Average, Aiming for $0.119 Target?
February 24, 2026
Dogecoin is currently encountering a crucial point in its price action as it tests the resistance level set by the 50-day Exponential Moving Average (EMA), prompting analysts to anticipate a potential uptrend towards higher price range levels. The current trading price of Dogecoin (DOGE) is at $0.09132, reflecting a 2.8% decline over the last 24 hours, with the price movements primarily oscillating between $0.09093 and $0.09736. The intraday chart illustrates a fleeting rise towards the $0.097 threshold, only to be met with strong resistance, followed by a subsequent series of lower highs and lows driving the price back towards the $0.091 mark.
While DOGE has managed to eke out a 0.5% gain against Bitcoin, the shorter-term outlook suggests a bearish tilt unless buyers can reclaim the $0.094–$0.095 territory. Nevertheless, the long-term performance exhibits sustained pressure, with DOGE marking an 8.9% decline on a weekly basis, a 25.9% drop monthly, and a substantial 60.3% decrease over the past year. These figures clearly place the asset in a broader corrective phase, with a critical psychological support level hovering around the $0.090 mark. The pressing question remains – what lies ahead for DOGE?
Analyzing the price action of Dogecoin within the daily timeframe reveals a persistent downward trend that has been prevalent since late 2025. The price trajectory remains notably below both the 50-day EMA ($0.1116) and the 100-day EMA ($0.1296), with the shorter EMA positioned beneath the longer one, reinforcing the bearish sentiment and downward momentum. Recent price candles depict a consistent rejection near the 50-day EMA, establishing it as a formidable dynamic resistance level. The failure to initiate a sustained rebound from the mid-February rally has forced the price back towards the $0.09 range, confirming the prevailing pattern of lower highs and lows, indicating the dominance of sellers unless the price manages to surpass the $0.11–$0.13 threshold.
Further scrutiny using the Average True Range indicator highlights a decline to approximately 0.0067, suggesting a reduction in volatility following a sharp selloff. This decline hints at a cooling market environment, potentially gearing up for a significant directional shift. However, with volatility diminishing during a firmly established downtrend and an absence of a bullish crossover in the EMA indicators, the technical bias remains cautiously bearish. A decisive breakthrough above the 50-day EMA is imperative for a shift in sentiment. Failure to breach this level could potentially expose Dogecoin to further downward pressure, targeting the $0.09 support level.
Closer examination of the 4-hour chart reveals an observation by crypto analyst Trader Tardigrade, indicating a rebound of Dogecoin from the oversold region in the Relative Strength Index (RSI) following a cooling-off period from overbought conditions. Historical data points to similar RSI resets culminating in robust upward movements, with past instances leading to a rally towards the $0.115–$0.119 range.
Drawing insights from this repetitive pattern, the analyst forecasts a potential resurgence towards the upper boundaries of the recent trading range, envisioning a price target above $0.119. Achieving this target would necessitate a surge of approximately 30% from the current trading price of $0.09132.
In conclusion, it’s imperative to note that the content provided is purely informational and should not be construed as financial advice. The viewpoints expressed herein may reflect personal opinions and do not necessarily align with The Crypto Basic’s stance. Readers are advised to conduct thorough research before making any investment decisions, with a reminder that The Crypto Basic is not liable for any incurred financial losses.
