The Dogecoin price is trading at $0.1422 with a bullish bias as buyers continue accumulating on the latest drawdown to $0.1335. The popular memecoin appears to have found support at lower levels.
According to data from market intelligence firm IntoTheBlock, the Dogecoin price is sitting on relatively immediate strong support at $0.140, compared to the immediate resistance at $0.145.
This support level lies within the $0.138 to $0.142 price range, where approximately 3.74 billion DOGE were previously bought by roughly 96,530 addresses
Dogecoin IOMAP chart. Source: IntoTheBlock
In comparison, the immediate resistance at $0.145 sits in range where approximately 4.6 billion DOGE were previously bought by 84,740 addresses.
There are more buyers on the downside than on the upside who could push the price higher. A key zone to watch on the upside is the $0.15 to $0,155 supplier congestion zone, where all the moving averages appear to merge.
Overcoming this barrier would see the memecoin rise to tag the $0.18 psychological level. Such a move would represent a 26% uptick from the current levels.
The relative strength index (RSI) had begun moving upward, a sign that the downward trend was losing steam and that the buyers were now taking control of the price.
Conversely, failure to hold above the $0.140 support would spell doom for the price, which could start recording lower lows toward $0.110.
