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Dogecoin shows early signs of momentum recovery but must reclaim key resistance levels for further uptick.
Dogecoin (DOGE) is showing a mild recovery after recent market-wide volatility, with the latest 24-hour chart indicating a 2.3% gain, bringing the price to $0.1495. The chart captures a strong upward move late in the trading session, where DOGE briefly surged above $0.154, before easing slightly.
Despite the intraday rebound, Dogecoin’s broader performance remains mixed, with the memecoin still down 3.6% over 7 days and 15.9% in the last 14 days. The 24-hour trading volume of $1.52 billion reflects sustained interest from traders. The chart suggests DOGE is attempting to stabilize, but whether there are chances of a bottom will depend heavily on overall market momentum.
Dogecoin Price Analysis
Specifically, looking at momentum indicators, the daily chart shows the memecoin attempting to stabilize after an extended downtrend, but technical indicators still lean bearish overall. The Bollinger Bands highlight how DOGE has been riding the lower band for several days.
The price already briefly dipped below the lower band, often an indication of oversold conditions, before bouncing back toward $0.150. However, the middle band, which represents the 20-day simple moving average (SMA), sits much higher at $0.16028, acting as a strong dynamic resistance level that DOGE must reclaim for a run towards the upper band at $0.185. As long as price remains below this SMA, bearish momentum continues to dominate.
The Awesome Oscillator (AO) at the bottom of the chart reinforces this trend. Specifically, the indicator remains below the zero line, though the most recent histogram bars show weakening bearish momentum as red bars transition into smaller green ones.
This shift suggests sellers may be losing strength, opening the door for a potential short-term relief bounce. Still, the AO has not yet crossed into positive territory, meaning a true trend reversal has not been confirmed.
DOGE Gearing for Something Big?
Further strengthening the bullish narrative, market analyst Trader Tardigrade has shared a chart suggesting that Dogecoin may be on the verge of a significant breakout.
According to the analysis, DOGE’s MACD indicator is showing two key developments: a contracting histogram, which signals that bearish momentum is fading as volatility tightens, and a fresh bullish crossover, often considered an early sign of an upcoming upward move.
According to the analyst, Dogecoin could be gearing for something big. Specifically, these conditions typically precede strong directional shifts.
The chart also highlights Dogecoin’s long-term falling-wedge structure, a pattern widely recognized as a bullish reversal signal. If this setup confirms, Dogecoin could be gearing up for a powerful rally. The analyst’s projection points toward a potential upside target in the $0.34 range. To reach the analyst’s projected target of $0.34, Dogecoin would need to surge by approximately 127% from its current price of $0.1495.