Recently, the price of DOGE encountered resistance around $0.17, which coincides exactly with its 20-day moving average. Despite facing pressure, long positions investors have not easily given up, but instead have launched a strong resistance at lower levels. Currently, the market seems to have entered a short-term range-bound state.

From an optimistic perspective, if DOGE can effectively break through the 20-day moving average, its next target may be the 50-day moving average around $0.19. If it can firmly hold above this level, the long positions may further strengthen, potentially driving the price towards the $0.26 area, potentially initiating a strong rebound.

However, there are also downside risks in the market. If DOGE cannot break through the current resistance and falls back around $0.21 again, it may continue to consolidate in the lower half of the range-bound between $0.14 and $0.26. It is worth noting that $0.14 is a key support level. If this level is breached, it could trigger panic among investors, leading to a rapid decline in price to around $0.10.

Currently, DOGE's trend is at a critical crossroads. Whether it breaks upwards or continues to decline, it could have a significant impact on the short-term market landscape. Investors should closely monitor price movements and adjust their strategies in a timely manner based on market changes.