Dogecoin price hovers at $0.06 support zone! What are analysts watching now?

Dogecoin is once again drawing attention as it lingers near its long-term support zone, with analysts noting that accumulation patterns are starting to reappear, potentially signaling an end to its recent downward momentum. According to market experts, if this crucial level holds, DOGE could be preparing for a prolonged base-building phase that might last several months—a development that often precedes significant upward moves.Investors eye long-term support regionHidden bullish divergence raises eyebrowsA critical area to defend for Dogecoin’s next move Investors eye long-term support regionAnalyst Polaris has shared a chart indicating that Dogecoin may retest its 2022 lows before entering a sustained accumulation period. The crucial area highlighted is the $0.06 level, a price zone where strong buying interest has emerged in the past. Despite recent signs of stabilization, Polaris’ analysis suggests DOGE remains locked in a broad and sideways consolidation pattern, showing that investors are not yet ready to take a decisive direction.Polaris believes that the next major rally for Dogecoin is unlikely to occur in the short term and is more probable during a larger-scale cryptocurrency bull run across the market.In this outlook, if support around $0.06 holds, the price may persist in moving sideways for several months, allowing long-term buyers to gradually accumulate positions. On the flip side, should this support give way, one of the main risks would be a deteriorating technical outlook, weakening prospects for a sustained recovery.Analyst Surf has offered a different angle, noting that Dogecoin is testing a rising trend line that has held since 2022. At the same time, Surf points out the presence of a “hidden bullish divergence”—a technical signal indicating underlying strength even when the price itself appears weak. In technical analysis, this setup can suggest that selling pressure is losing its intensity. Glossary: A hidden bullish divergence arises when a price forms higher lows while certain momentum indicators create lower lows. This technical signal may point to a continuation of the prevailing trend and reduced selling pressure in the market.Surf’s chart shows DOGE holding above its multi-year rising trend line, with momentum indicator discrepancies supporting the view that downward pressure is waning compared to previous cycles. According to Surf, this structure could set the stage for a larger move upward, especially as the token cycles near its bottom range.A critical area to defend for Dogecoin’s next moveBoth analyses agree that Dogecoin is currently at a pivotal technical juncture. Successfully defending long-term support may signal further accumulation, strengthening the case for a potential rebound in the coming period. For patient investors, this developing scenario could present opportunities as the groundwork for a future rally is put in place.Conversely, if the price breaks below its established support lines, both Polaris’ base-building thesis and Surf’s bullish divergence scenario could be invalidated. In such a case, analysts warn that downside risks would increase and the DOGE market may seek new lows before any significant reversal can occur.Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.