- DOGE holds long-term support with bullish divergence, signaling potential breakout to $0.47.
- A double-bottom pattern and ETF optimism support DOGE’s possible rally toward $1.20.
- Stable volume and rising RSI suggest growing buyer interest as DOGE eyes key resistance at $0.20.
Dogecoin (DOGE), one of the oldest cryptocurrencies with a dedicated community, is showing renewed bullish momentum. During the 2021 bull market, DOGE surged by over 5,200%, largely driven by retail interest and Elon Musk’s influence. Now, analysts believe a move past the $0.20 resistance could push DOGE toward a long-term target of $1.20.
Technical Setup Shows Potential for Uptrend Continuation
According to analysis prepared by Crypto NL, Dogecoin is holding support on a long-term rising trendline, which has remained intact for over 18 months. This trendline has been tested several times and has repeatedly resulted in short-term rebounds, with the most recent occurring near the $0.16 area. The price continues to follow a pattern of higher lows, suggesting that buyers are stepping in on dips.
Trader Tardigrade also noted a hidden bullish divergence on the hourly chart, marked by higher price lows and lower RSI readings. This pattern typically signals a continuation of the uptrend. Additionally, DOGE formed a double-bottom on the weekly chart, with support holding near $0.142. If the neckline at $0.26 is broken, the pattern’s target points to $0.47.
Volume has remained stable, and momentum indicators such as the MACD and ADX are showing favorable conditions for a possible move upward. The RSI is also turning upward but remains below 50, indicating space for more buying activity to develop.
ETF Rumors and Historical Patterns Add to Market Optimism
Speculation around a possible Dogecoin ETF continues to grow. According to Coinglass and Polymarket data, 74% of traders now believe an ETF approval could arrive before year-end. A recent amended filing by Bitwise has added to this optimism, with Bloomberg’s Eric Balchunas calling it a “good sign” of progress.
At the same time, Trader Tardigrade’s long-term analysis compares the current DOGE pattern to its 2015–2018 cycle. If the pattern holds, DOGE could target $1.20 and possibly reach as high as $4.00. At the time of writing, Dogecoin is trading at $0.1622.
