Dogecoin (DOGE) Price Analysis & Prediction: DOGE Struggles to Signal Its Next Major Move

The past week's trading has been dicey as Doge failed to initiate a major move due to serious volatility drops across the market. It showed signs of strength in the past hours but remains trapped in consolidation.

Dogecoin (CRYPTO: DOGE) price showed signs of strength in the past hours but remains trapped in consolidation.

Here's what to expect and the key levels to watch.

What Happened: Dogecoin has been trading in a tight range above the $0.3 level after a sharp rejection last week from the $0.26 price, which marked a monthly low. This brought a temporary halt in the seven-week-long correction with no sign of a major recovery yet.

However, a recent drop in volatility has subjected the meme coin to a consolidation mode, indicating indecisiveness in the market. As seen on the daily chart, the meme coin is struggling with volatility and has yet to signal its next major move, despite showing signs of strength on the daily chart.

The consolidation, which led the market into a little-to-no movement since the start of this week, might end soon if buying volume increases.

Last week's rejection showed signs of exhaustion in the correction, and a breakdown could lead to an extension until it finds a solid ground level.

The monthly correctional phase is still intact on the daily chart. A major move from the current trading level will determine where the price is headed next.

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Key Levels To Watch: Losing grip above $0.3, the price may roll back to the $0.262 support. A breakdown from there could send the price to a low of $0.22 and $0.18.

Resuming bullish, Doge must retake the immediate $0.365 resistance along with the monthly $0.48 high. A break above this high could sprout a surge to $0.6 before reaching the key $1 level by the end of this bull run.

Key Resistance Levels: $0.365, $0.48, $0.6

Key Support Levels: $0.262, $0.22, $0.18

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DOGE Price Action: Dogecoin trades at $0.31 in the past 24 hours with a trading volume of $464 million.