Dogecoin rallies above the 200-day EMA with a strong increase in volume, reflecting strong buyer confidence and bullish technical momentum.
The double-bottom formation lines up perfectly with the $0.25–$0.28 resistance zone, indicating possible trend reversal breakout.
The MACD indicator confirms strong upside momentum with rising histogram bars and a diverging signal line indicating a further bullish continuation.
The Dogecoin (DOGE) uptrend continues to gain serious strength as it approaches a major resistance area around $0.25–$0.28, and with the bullish momentum increasing, a breakout could lead to a major rally towards $0.36–$0.42.
DOGE Price Approaches Crucial Breakout Level
Crypto analyst Dhungana recently highlighted on Twitter that “$DOGE is approaching the key $0.25–$0.28 resistance zone. A breakout above this level would confirm a double-bottom pattern, potentially triggering a move toward $0.36–$0.42.”
https://twitter.com/CryptoAnup/status/1946846648967246308
DOGE/USD’s daily chart shows price action pressing firmly against the $0.25–$0.28 supply zone. This level previously served as a strong rejection area, making it a significant barrier. Besides, the area aligns with a descending trendline that DOGE is now attempting to break.
The price recently exploded above the 200-day EMA at $0.2041. That technical breakout was accompanied by a surge in daily volume, now hitting $1.6 billion. This spike reinforces strong buyer participation and validates the upward momentum.
Double-Bottom Formation Signals Potential Bull Run
DOGE’s current pattern is shaping into a textbook double-bottom formation. Its neckline sits exactly within the $0.25–$0.28 resistance zone. A solid breakout and daily close above this area will confirm the reversal.
Moreover, the MACD shows the bullish case gaining strength. The MACD line is climbing rapidly above the signal line. Additionally, rising histogram bars indicate growing buying pressure.
Hence, if DOGE manages to close above $0.28, the price could accelerate toward $0.36 and possibly $0.42. These targets reflect previous swing highs and offer strong profit zones.
Watch for Pullbacks but Bulls Remain in Control
As opf writing, DOGE trades around $0.2532, marking a 5.21% daily increase and a 25.98% weekly gain. Consequently, bulls are clearly dominating the trend.
However, traders should stay alert. If the price fails to clear $0.28, a pullback toward $0.21–$0.22 may follow. That level could offer a healthy retest opportunity before continuation.
Significantly, if the momentum sustains, DOGE could fully break out of its long-term descending structure. Moreover, volume spikes and strong green candles support the bullish outlook.
In conclusion, DOGE is nearing a make-or-break moment. A confirmed breakout could shift the narrative sharply bullish in the near term.
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