- RSI climbs past 50 as Dogecoin breaks wedge pattern
- MACD crossover hints at trend reversal ahead
- DOGE eyes $0.17 breakout with rising on-chain activity
Dogecoin is showing early signs of a breakout following a falling wedge formation on the 1-hour chart. Technical indicators such as RSI and MACD are now signaling growing bullish momentum, supported by historical price behavior. Investors and traders are watching key resistance levels between $0.16 and $0.18 as potential confirmation zones.
Breakout Structure Forms on Falling Wedge and RSI Recovery
According to analysis prepared by Trader Tardigrade on April 16, 2025, Dogecoin is forming a breakout structure from a falling wedge pattern. The price has been compressing between $0.098 and $0.072 since March 23, 2025.Â
The apex of the wedge is projected around May 5, suggesting a breakout point.The RSI indicator has rebounded from oversold conditions and now trends above the neutral 50 level, indicating a momentum shift.
A crossover of the MACD above the signal line, recorded on April 14, further supports this change in trend, though the histogram remains neutral. Trading volume also fell from 1.2 billion DOGE to 0.8 billion DOGE, which aligns with previous low-volume phases before large moves.
Key Support and Resistance Levels Draw Market Focus
Dogecoin is revisiting its channel low support zone, a level that triggered a sharp rally in the past. According to Blockchain.com, active wallet addresses rose from 150,000 to 180,000 between March 23 and April 15, showing increased on-chain activity.
Analyst Ali Martinez stated that a daily close above $0.17 could open the door to $0.21 or $0.29 if momentum holds. The $DOGE/BTC pair showed a 10% daily range on April 15, while $DOGE/USDT remained more stable with a 5% range, according to Binance.
Technical indicators and historical price action continue to show that Dogecoin could see sharp movement soon, with traders watching volume and resistance levels for confirmation.
