Dogecoin Price Action Signals Bullish Reversal as Key Support Holds Strong

• Dogecoin nears key support, and analysts expect a breakout if momentum holds above resistance.
• Buying pressure grows as Dogecoin eyes a bullish reversal, targeting $0.50–$0.60.
• Market signals hint at Dogecoin regaining meme coin dominance with a potential rally ahead.

Dogecoin (DOGE) is approaching a critical market zone, which could lead to potential price shifts in the coming sessions. Crypto investors are monitoring key support and resistance levels that may determine the cryptocurrency’s next major move.

Price Action and Market Structure

According to market analyst Rose Premium Signals, Dogecoin price analysis shows that the asset has reached a crucial reversal zone, presenting strong bullish potential. The cryptocurrency’s price has hit the $0.16896 support level, aligning with a potential Cup & Handle formation. A breakout above $0.29124 could push the price toward new highs. The long-term target remains between $0.50 and $0.60, with additional upside potential if momentum persists. The analysis further indicates that Dogecoin could reclaim its dominance in the meme coin market if conditions remain favorable.

Dogecoin’s daily time frame exhibits a head-and-shoulders pattern, leading to a downward trend. The price decline has found support at approximately $0.16896, where multiple rebounds have occurred. Analysts have identified a trendline that confirms a falling wedge pattern, a bullish reversal signal. The support zone between $0.16896 and $0.15 has demonstrated strong buying interest, reinforcing a potential shift in trend.

Technical Indicators and Future Projections

Another market analyst, Ali Charts, reported that the TD Sequential indicator has flashed a buy signal on the daily time frame. This signal often precedes price reversals, supporting the case for an upward move. The previous Dogecoin market trend sharply declined from $0.24 to approximately $0.18, followed by a modest recovery.

Market experts have observed that selling pressure has declined, aligning with a potential market reversal. A confirmed breakout above $0.26 and $0.32 could trigger a stronger bullish rally. Failure to sustain support levels may lead to another retest of lower price zones

Dogecoin is currently at a key inflection point. The market’s reaction to support and resistance levels will determine the next price movement