- Dogecoin retests key neckline at $0.2388, signaling possible continuation of bullish trend.
- MACD confirms bullish crossover; previous signals led to rallies over 200% each time.
- Volume tops $3B as DOGE targets $0.43 short term, with $1 in sight if momentum sustains.
Dogecoin ($DOGE) is currently retesting the neckline of a confirmed double bottom pattern, which often signals trend reversal potential. This area has emerged as a key support zone and could offer a favorable setup if price stability holds. At the time of writing, Dogecoin was trading at $0.2388.
Technical Structure Suggests Price Continuation Potential
According to analysis prepared by Ali Charts, Dogecoin is revisiting the neckline of a double bottom pattern after previously breaking above it. This price behavior often reflects a common retest before continuation, especially when supported by strong historical structure and buyer interest.
The neckline retest comes after DOGE reached a local high of $0.288 before correcting. Price data shows a clear uptrend since April 2025, with Dogecoin forming consistent higher lows. Support is holding near $0.235, which coincides with the 4-hour 50-day simple moving average.
The broader structure also reflects a breakout from a 146-day ascending parallel channel, with the recent pullback returning to the breakout level around $0.26. This aligns with bullish continuation setups observed in previous cycles.
Indicators and Volume Trends Reinforce Bullish Outlook
The Moving Average Convergence Divergence (MACD) has confirmed a bullish crossover on the weekly chart. According to MikyBull Crypto, this is the third such signal in under two years, with both prior crossovers followed by rallies exceeding 200%. The price remains inside a rising channel, and volume trends continue to show market engagement despite short-term pullbacks.
According to an observation by Trader Tardigrade, the recent retest of the breakout level at $0.26 confirmed the structure. Bit Origin’s $500 million initiative to build a Dogecoin treasury has added to institutional participation, further supporting sentiment.
According to Coinglass, DOGE trading volume surged above $3 billion this week. Technical patterns such as a cup-and-handle and falling wedge suggest intermediate targets near $0.43, with long-term projections pointing to $1 if current momentum continues.
