- Dogecoin confirms breakout from multi-month downtrend with strong volume support and targets a 37.85% rally toward $0.21804.
- The $0.15500 level flips into crucial support as DOGE retests it successfully, reinforcing the bullish reversal pattern underway.
- A surge in volume and sustained buying pressure mark a fresh accumulation phase, positioning Dogecoin for midterm upside continuation.
Dogecoin has confirmed a breakout from its multi-month downtrend and is now retesting key support. The price action suggests a strong midterm bullish wave may follow. At the time of reporting, Dogecoin trades at $0.16055 after gaining 2.79% in 24 hours. This rise equals a $0.00444 increase. The current price also remains above the crucial descending channel it recently broke out from. Trading volume supports this bullish move, indicating strong market interest.
Since October 2024, Dogecoin has undergone dramatic shifts. The price initially surged from $0.10 to $0.43 in under two months. This 330% gain marked a strong bullish cycle. However, by December 2024, DOGE entered a descending channel. The downtrend lasted until early April 2025. Two clear diagonal trendlines formed this bearish pattern. The price respected these lines closely over the three-month decline.
Key Support at $0.155 Holds Firm
The $0.15500 level has proven crucial during this cycle. It first acted as resistance in early November 2024. Following the breakout, it flipped into a major support level in April 2025. When DOGE briefly dipped below it earlier this month, buyers stepped in. A strong lower wick on the candle reflected aggressive buying pressure at these levels. Consequently, price recovered quickly, confirming market demand.
Since then, Dogecoin has stayed above $0.15500. Moreover, the breakout from the descending channel happened on rising volume. This adds confidence to the move. Significantly, the old resistance trendline now acts as support. Several retests have validated this breakout, adding to its technical strength.
Price Target at $0.21804 in Focus
A vertical projection shows a potential move toward $0.21804. This target reflects a 37.85% gain from current levels. Besides, this level coincides with past swing highs seen in December and January. The current structure signals renewed accumulation after a complete market cycle. Accumulation, distribution, decline, and now accumulation again—each stage is clearly reflected in DOGE’s chart.
Additionally, the increasing volume supports the ongoing recovery. Green candles dominate the recent sessions. This suggests sustained buyer momentum. Hence, the breakout appears valid, with a promising midterm outlook. Dogecoin’s bullish reversal now depends on holding above $0.15500 and pushing toward the projected high.
