- Dogecoin confirms a trend reversal after a breakout and successful retest above a key trendline.
- Rising trading volume and a bullish golden cross on the daily chart support Dogecoin’s uptrend.
- Immediate resistance at $0.1878 could open the way for Dogecoin to target $0.24 in the near term.
Dogecoin (DOGE) is once again in focus as a clear trend reversal has been confirmed on the daily chart. After months of consolidation, DOGE has broken above a long-standing trendline, retested it successfully, and is now continuing higher, suggesting a shift from a downtrend to an uptrend.
Breakout and Retest Signal Dogecoin’s New Bullish Phase
According to analysis prepared by Trader Tardigrade, Dogecoin recently achieved a bullish cross on the Stochastic RSI biweekly chart. This indicator is often used to identify early stages of positive momentum shifts. In addition, DOGE has broken out from a falling wedge pattern that had been in formation since November 2024.
The breakout was confirmed around the $0.145 level and was quickly followed by a retest back to the trendline, which held strong. Following the retest, DOGE resumed its upward movement, now trading around $0.1812. This pattern is consistent with traditional technical structures that often forecast continued gains when confirmed with rising volume and supportive indicators.
Trading volume has risen sharply, with Binance reporting a 22% increase in DOGE/USDT volume between April 27 and April 28, 2025. Active addresses on the Dogecoin network also increased by 12% in the past 48 hours, according to data from Glassnode, reflecting greater network activity.
Technical Indicators Support Dogecoin’s Uptrend Outlook
Technical momentum remains favorable. The RSI on the daily chart is climbing but remains below the overbought threshold, leaving room for further gains. The golden cross formation, where the 50-day EMA has moved above the 200-day EMA at $0.140, strengthens the bullish case.
Immediate resistance now lies at $0.1878, and a break above this level could open the path to $0.24 in the near term. On-chain data also shows net inflows to exchanges have decreased by 7.3% over the past 24 hours, according to CryptoQuant, signaling reduced selling pressure.
With Bitcoin trading near $94,000 and broader crypto sentiment improving, Dogecoin’s confirmed trend reversal positions it well for potential continued upside into May 2025.
