Dogecoin’s rally stalls at $0.29 – break could unlock major gains

As the larger part of the cryptocurrency market is still waiting for a major change in sentiment to decide on its next move, Dogecoin (DOGE) has stalled its rally at $0.29, and whether it breaks through or rejects here could set the tone for the near future.

Indeed, DOGE is trading just below this stubborn resistance at $0.29, marked by several failed attempts earlier in the year, and it must convincingly push past it if it hopes to resume its rally, according to the analysis by the popular crypto trading expert Ali Martinez shared in an X post on September 16.

As it happens, each time DOGE has approached the $0.29-$0.30 zone, sellers have stepped in, forcing the meme-inspired crypto back down. This repeated rejection has created a clear ceiling in the market, one that bulls now need to smash through to open the door for higher highs.

Why $0.29 matters for DOGE

From a technical perspective, $0.29 represents a multi-month supply zone where traders have consistently taken profits. Breaking above it would not only invalidate this selling pressure but could also trigger a wave of stop orders and fresh buying momentum, propelling DOGE toward the $0.32-$0.35 region.

On the downside, failure to breach it could see Dogecoin slip back into its familiar trading range between $0.20 and $0.25, where it has spent much of the summer consolidating. The mid-range level around $0.21 remains key support, while a breakdown below $0.17 could weaken the broader bullish structure.

For the time being, DOGE is changing hands at the price of $0.2647, recording an increase of 0.41% in the last 24 hours, a 9.65% gain across the previous seven days, and an accumulated growth of 13.46% on its monthly chart, according to the latest data.

All things considered, traders are currently laser-focused on $0.29. A decisive breakout could reignite bullish enthusiasm and potentially set DOGE on course for another major upswing. But until it clears that barrier, caution remains the name of the game.