Dogecoin is consolidating below the $0.26 resistance level after facing a sharp rejection, dropping over 18% since its local high on May 10th.
Analyst Ali Martinez expects Dogecoin to retest the $0.213 level, which previously acted as both resistance and support, if bullish momentum continues to fade.
Speculation surrounds Dogecoin's potential to lead if the market regains momentum, but risks persist as the meme coin hovers above key support levels.
Dogecoin's current trading at $0.221 shows signs of weakness, with potential support near $0.213 and resistance at $0.269, indicating a pivotal moment for the cryptocurrency in the coming days.