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Dogecoin (DOGE) has reached a pivotal juncture on its four-hour chart, according to a new technical analysis shared by crypto analyst Satori (@Satori_BTC). The chart, posted on X, highlights Dogecoins current interaction with the middle band of the Bollinger Bandsoften used to measure volatility and potential support/resistance levelsaround $0.19.
Satori notes that $0.19 represents the middle band, which aligns closely with a horizontally drawn support zone on the chart. In the past, this region has visibly acted as a price floor, evident from multiple candle bodies and wicks converging near this level.
The Bollinger Bands themselves, displayed as red (upper band) and green (lower band) envelopes, are narrowing compared to earlier periods, suggesting that market volatility could soon pick up if price action closes firmly above or below these bands.
Volume bars beneath the price candles underscore periods of heightened trading activity, with one notable spike visible during the last significant upward moveindicating strong participation from market participants when DOGE rallied from the $0.17 area to above $0.19. Currently, volume appears moderate, but Bollinger Band constrictions often foreshadow more pronounced volatility.
The upper Bollinger Band, shown in red, hovers near $0.204, an area where recent price candles peaked before retreating to the middle band. If DOGE decisively reclaims this higher boundary, bullish traders may look for extended upside momentum. Conversely, the lower Bollinger Band is now situated in the mid-$0.17 range, a level Satori highlights as the next notable support should $0.19 fail to hold.
Satoris commentary warns of potential volatility if the middle band breaks down. DOGE has reached the middle band of the Bollinger Bands, indicating support around $0.19. If this level is breached, monitor the support near $0.17. Be cautious of potential volatility as the market reacts to these levels.
As of this writing, DOGE is trading just above $0.181, hovering below the Bollinger Bands middle line. Notably, the price failed to re-enter the descending channel on the daily charta formation that guided Dogecoins movement from early December until late February. After breaking below that channel, DOGE tested a multi-year trendline on the weekly chart but successfully held it.
Since then, it has climbed back above the 0.786 Fibonacci level. However, the latest rejection at the channels lower boundary puts the $0.167 supportwhich aligns closely with the lower Bollinger Band highlighted by Satorisquarely back in focus. Holding this level is crucial to maintain the bullish momentum.
