Technical analysis by melikatrader94 about Symbol DOGE: Buy recommendation (8/9/2025)

Hello guys! Trend Structure: The price is moving within a broad ascending channel, with both upper and lower boundaries acting as dynamic resistance and support. The midline (dotted blue) appears to function as a short-term pivot zone. Recent Movement: After a mid-July decline from around $0.29, the price found support just above $0.17 and has since rallied sharply, now trading around $0.2367. Projection Shown in Chart: The drawn black curved arrow suggests a potential short-term pullback from the current levels before resuming the uptrend toward the $0.314 resistance, which corresponds to the upper boundary of the channel. Key Levels: Immediate resistance: $0.24 – $0.25 zone Major resistance target: $0.314 Immediate support: Around $0.21 (midline of channel) The outlook here is bullish, assuming that the midline support holds during any pullback. A break and close above $0.25 would strengthen the likelihood of a move toward $0.31.