Dogecoin's recent market performance has been quite interesting. By Friday's close, DOGE's price remained at $0.14, with a 24-hour increase of only 0.25%. It sounds uneventful, but on the weekly chart, the decline reached 7.4%. More notably, trading activity has significantly decreased, with trading volume halving compared to the previous period, indicating that market participants are mostly on the sidelines.

From a technical perspective, what is the current state of Dogecoin? The Relative Strength Index (RSI) stands at 52.7, with the signal line near 52, suggesting that market momentum is neutral to slightly weak, with no clear advantage for bulls or bears. Looking at the moving average system, the picture becomes clearer. The 20-day moving average at $0.13 acts as short-term support, the 50-day moving average at $0.14 is a key resistance level, while the 100-day at $0.15 and the 200-day at $0.17 indicate a long-term downward trend.

The core question at this stage is whether the price can hold above the 20-day moving average or if it has the strength to break through the critical resistance at the 50-day moving average. These two levels are the main focus for upcoming observation. If the price can stabilize above the key moving averages, it may signal that the bottom momentum is building.

Crypto analyst Jonathan Carter has provided a list of target price levels. He believes DOGE's potential upside targets are set at $0.15, $0.18, $0.20, $0.24, and $0.28, all corresponding to historically significant retracement points. Carter's view is that as long as Dogecoin can recover from this correction, there is a chance for these levels to be revisited.