Analyst’s Bold Dogecoin Price Prediction Amid Improving Technicals: All About It

Key Insights:

• Dogecoin price broke above a long-term trendline, opening the path to targets near $0.27 and $0.33.
• Historical cycles show Dogecoin gained 5,800% and 21,000% after similar rounded accumulation phases.
• A confirmed Cup and Handle pattern on DOGE/BTC suggests Dogecoin may outperform Bitcoin soon.

Analysts monitored Dogecoin (DOGE) price charts as the meme coin broke key resistance levels. Technical indicators showed a potential shift to a target of $0.33 soon.

Simultaneously, historical trends and the DOGE/BTC pair indicated strength in favor of a bullish scenario.

Dogecoin Price Trendline Breakout

On the weekly chart, Dogecoin price broke above a long-term downward trend line, where the line had been used as dynamic resistance since late 2023.

This breakout followed a sequence of higher lows and represented a broad base formation, showing increasing buyer interest.

As of writing, the meme coin price traded above former resistance near $0.18, a development that showed a trend reversal signal. Trading volume has also advanced on this breakout, validating the movement in market direction.

Having this breakout established, the next two main resistance levels were at $0.27 and $0.33. These areas were turning points in earlier rallies and may be the next targets.

Besides, the formation resembled breakouts during prior bullish cycles, indicating that the meme coin price action can lean in favor of buyers in the intermediate timeframe.

If DOGE price remains above the trendline, the short-term corrections may be supported above $0.20 to $0.22 region.

Dogecoin Price Historic Cycle Fractals Suggest Potential Continuation

Looking at the Dogecoin price historical cycles, repetition of rounded accumulation patterns can be seen, which are followed by sharp bull runs.

Analyst Bitcoincensus pointed out two earlier cycles in 2017 and 2021 that had nearly the same structure.

Notably, the meme token rallied more than 5,800% in 2017 after completing a bottoming formation. The same was followed by a 21,000% rise in 2021. All these patterns were marked by sideways action, then breakout and rising.

In addition, the analyst suggested that this fractal began to be replicated in the present structure. The base curve, timing, and price action all correspond with historical accumulation zones.

Furthermore, Dogecoin price may be finishing its last stage of this round structure, and the compression could suggest a continuation of the breakout.

Should this cycle reflect past action, then DOGE price might reach higher than $0.27 and trend towards the higher resistance at $0.33.

DOGE/BTC Cup and Handle Signals Relative Strength

Meanwhile, there was also a bullish structure in the DOGE/BTC trading pair that added more context to Dogecoin performance against Bitcoin.

A Cup and Handle formation was created on the daily chart, usually associated with the upward continuation.

Moreover, the chart showed a rounded bottom, the cup, followed by a slight pullback, the handle, which is typically the final consolidation before a breakout. The neckline rested near the 0.0000172 BTC level.

A breakout from this pattern would suggest DOGE price could gain in value against Bitcoin, even if Bitcoin remains in a range. This relative strength is often used as a leading indicator for altcoin-specific rallies.

If DOGE/BTC sustains a move above its neckline, there may be further capital rotation into the meme coin. This could amplify the USD pair’s momentum and provide additional fuel for a push toward the $0.33 level.

At the time of writing, Dogecoin price traded at $0.214, up 7% over the past 24 hours. Daily volume surged by 82.% to $3.47 billion, with its market cap rising to $32.23 billion. The meme token rallied from a low near $0.2015, showing strong intraday momentum.

Supporting a bullish breakout, recent analysis showed Dogecoin price reclaiming key levels and targeting $0.351 based on Fibonacci levels. There was a rise in on-chain activity and a growing holder count, indicating a possible continuation to higher resistance zones in the coming weeks.