- Dogecoin maintains bullish momentum as it trades above trendline support, with $0.17 acting as a key level to unlock a rally to $0.21.
- TD Sequential buy signal and consistent volume activity suggest Dogecoin may be poised for a rebound after recent consolidation phases.
- Despite recent resistance at $0.167, Dogecoin’s bounce from $0.14270 shows strength, keeping upward targets like $0.23137 in focus.
Dogecoin is showing renewed signs of strength, with analysts pointing to a possible rebound if key levels are reclaimed. According to Ali, a crypto analyst, Dogecoin must reclaim $0.17 to unlock a potential rally toward $0.21. The TD Sequential indicator has also flashed a buy signal on the 3-day chart. This technical setup signals a possible trend reversal after weeks of price consolidation near $0.162. Currently, Dogecoin trades at $0.16227, up 1.46% daily, showing growing interest at current levels.
Trendline Support Holds Strong
Dogecoin has adhered to an upward trendline since December 2024, starting at $0.06. Throughout tumultuous times, price bounces have been steadily supported by this rising tendency. Before going into a corrective phase, Dogecoin’s price behavior in late 2024 achieved highs of $0.40. Deeper losses were avoided, though, as buyers moved back close to the trendline.
Source: Ali
Moreover, Fibonacci retracement levels offer further insight into the price structure. The 0.5 retracement sits at $0.16537, acting as short-term resistance. Meanwhile, the 0.382 level rests at $0.12828, marking a key historical support zone. Higher Fibonacci targets include $0.23137 and $0.30602. If momentum builds, Dogecoin could test the 1.0 Fibonacci extension at $0.48600.
Market Recovery May Be Underway
BitGuru also reports that Dogecoin climbed from a local low of $0.14270 to $0.16199, holding steady near $0.16307. Buyers must reclaim this level to push toward $0.172. However, Dogecoin recently faced heavy resistance around $0.167, creating mid-range consolidation pressure.
The downtrend from late May saw the price fall from $0.23000 to $0.12000. A descending channel shaped this decline, with failed breakout attempts at dynamic resistance. Consequently, the $0.12339 level formed a solid base as selling exhaustion set in.
Source: BitGuru
Volume patterns also reveal increased activity during rebounds and breakdowns. This suggests that both opportunistic buyers and sellers are still interested. Dogecoin may be getting ready for a larger trend reversal, as evidenced by the most recent rally, which coincides with important technical zones.
