Key Insights:
- Dogecoin consolidates above long-term trendline support, with analysts eyeing $0.30 as the breakout trigger.
- Bullish retest near $0.24 confirms structure; holding support could push DOGE back toward $0.28–$0.30.
- RSI rebound from oversold suggests renewed buying momentum, with price projection aiming toward $0.30–$0.32.
Dogecoin (DOGE) was trading at $0.2402 with a daily trading volume of $3.06 billion. Over the past 24 hours, the price has declined by -0.47%, while the past week shows a broader decline of -9%. Despite this pullback, analysts see the current level as a critical zone for possible accumulation.
Ali shared a 12-hour chart showing DOGE consolidating above a long-term ascending trendline. He described this area as a favorable entry point, stating, “This is a great zone to buy Dogecoin $DOGE before a bullish breakout to $0.50!” His chart suggests that as long as the trendline holds, DOGE could continue building momentum for an upward move.
Resistance Levels and Breakout Targets
Ali’s analysis indicates that DOGE could trade in the $0.26 to $0.30 range in the short term as it prepares for a breakout. The $0.30 level remains a key resistance point, where price has been rejected multiple times in past attempts. A sustained move above this area would be required to confirm further upside.
Projected targets from Fibonacci extensions point to $0.38, $0.42, and $0.49–$0.50 if DOGE clears $0.30. These levels mark potential milestones for continuation of the trend, with $0.50 as the longer-term objective.
Bullish Retest Signals Support
A daily chart from MikybullCrypto adds to this outlook. It shows DOGE trading near $0.2408, just above a descending trendline that it recently broke through. He called this move a bullish retest, where old resistance is now being tested as support.
According to him, holding this area would confirm the breakout structure and allow DOGE to retest the $0.28–$0.30 range. He warned that failure to hold could lead to a slip back below the trendline, which would weaken the bullish setup.
Oversold RSI Points to Momentum Shift
On a 4-hour timeframe, Trader Tardigrade noted that DOGE has moved out of the oversold zone on the RSI indicator. Price is currently near $0.245, with the bounce suggesting renewed buying pressure.
He wrote,
“$Doge/4-hour #Dogecoin has moved out of the Oversold Zone on the RSI ”.
However, his chart shows an upward projection toward $0.30–$0.32, aligning with the broader view of consolidation before a breakout. Previous rebounds from oversold conditions, such as in early August, led to sharp upward moves, giving traders reason to watch this level closely.
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Source: https://coincu.com/analysis/dogecoin-set-for-bullish-breakout/