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DOGE price is gaining traction after a trendline breakout, with traders targeting $0.89.
However, heavy liquidation pressure below $0.175 poses short-term risks, despite bullish signals from RSI and sentiment flips.
Analysts Turn Bullish as DOGE Price Trendline Breakout Clears
Dogecoin (DOGE) price is once again back in the spotlight after traders flagged a technical breakout, triggering renewed bullish sentiment across the market.
DOGE traded at $0.1708 at press time, up nearly 4% in the past 24 hours.
Crypto trader Naman noted that DOGE has completed a trendline breakout and retested the zone successfully.
In a March 30 post on X, he projected a price target of $0.89, citing a resistance zone at $0.5 as the next hurdle.
“It is now ready to start its rally upwards,” he stated, adding that beyond $0.5, DOGE has a “freeway.”
That optimism echoed broader market sentiment. Ali Martinez wrote, “Anxiety is building among DOGE holders. When sentiment flips like this, volatility often follows.”
DOGE’s market cap currently stands around $24.4 billion, making it the eighth-largest cryptocurrency.
Liquidity Risks Linger Below Key Support
According to data from TheKingFisher’s liquidation scan, long liquidations are stacked heavily below the $0.175 level.
This creates a potential liquidity magnet, meaning price could briefly dip lower to clear out overleveraged positions.
Above $0.185, however, short liquidations are sparse, hinting at limited fuel for an aggressive upside.
Analyst Trader Tardigrade pointed out a bullish divergence on DOGE’s hourly relative strength index (RSI), which often signals a short-term reversal. He commented,
“DOGE might be finding its bottom.”
While this could support a relief bounce, the looming liquidation cluster presents a critical risk for bulls.
DOGE Price Cycle Pattern Adds to Uptrend Narrative
ÐOGECAPITAL took a longer-term approach, comparing the current Dogecoin price chart to previous cycles in 2017 and 2021.
The trader claimed that in year four of both prior cycles, DOGE surged 37x from its yearly open.
In their analysis, the token is approaching the “green and red zone,” historically a precursor to upward movement.
They forecast a possible move starting as early as next month, although they clarified that this may not occur immediately. They noted,
“My prediction is that Dogecoin could close the daily candle on Dec. 31, 2025, at approximately $11.71.”
While long-term projections remain speculative, the combination of technical breakouts, sentiment shifts, and historical cycle patterns has revived interest in DOGE’s trajectory.
Volatility Ahead as Sentiment Flips
Dogecoin price short-term fate remains tied to both liquidity pressure and market-wide sentiment.
The current price zone around $0.170-$0.175 serves as a battleground, with bulls needing to defend it to maintain momentum.
DOGE price watchers remain split between technical optimism and liquidity concerns, with volatility appearing likely in the days ahead.