Dogecoin (DOGE) is currently trading around $0.24 after experiencing a recent plunge in the broader cryptocurrency market. While some analysts see potential for price gains, reaching $0.50 may require overcoming resistance above $0.29. 📈 📉 📈 📉 📈 📉 The asset’s market cap sits at around $80.3 billion, though DOGE has seen a decline of over 2.19% in the last 24 hours. 📉 ⏳ 💰 DOGE’s daily trading volume fell by over 19.75%, reaching $3.28 billion. Liquidity also saw a significant liquidations of over $8.68 million according to Coinglass data. 💰 A Dogecoin chart reveals key resistance and support levels. If DOGE breaks above $0.29, it could open the door for a strong price surge towards $0.50. However, failure to break through this level might lead to retrenchments towards $0.22 or even $0.19. 📉 The Moving Average Convergence Divergence (MACD) line is positioned just below the signal line, suggesting slight bearish momentum despite minor upticks. If the gap widens, it could confirm a stronger downtrend. However, if it hovers close, the market might flip bullish with a crossover. The Chaikin Money Flow (CMF) indicator at 0.08 suggests moderate buying pressure. 💰 Moreover, the meme coin’s RSI (Relative Strength Index) of 64.77 indicates an uptick in positive sentiment and is close to entering overbought territory above 70. 📈 The market shows a clear downtrend, with potential dips testing support at around $0.2398. Failure to hold this key level could deepen the bearish correction, with subsequent support below $0.2390. However, if a bullish shift emerges, initial resistance could be tested around the $0.2413 level. If DOGE’s momentum continues upwards, further price increases are likely, pushing the price above the $0.2420 mark. 🚀