Dogecoin's price regained its strength and surpassed $0.17 after a bullish wave overnight, as global sentiment buoyed the market. This recovery came at a time when China showed signs of readiness to return to the negotiating table with the United States regarding trade, favoring risky global assets such as cryptocurrencies.

Dogecoin surpassed $0.17 amid trade optimism

After a recovery of 11.96%, Dogecoin's price bounced back to the range of $0.19. This comes after China announced that it would begin negotiating new trade terms with the United States during the international economic forum in Switzerland at the end of this week.

The meme coin benefited from the positive momentum in the market, as investors believe that the trade dispute between the United States and China will ease. Cryptocurrencies like Dogecoin have seen growth potential due to market positivity, preventing the meme coin from reaching significant resistance levels over the past few months.

Additionally, analysis of Dogecoin's price over the past four hours indicates the formation of a rising wedge pattern over the last fourteen days. The meme coin is testing the resistance line from within a descending pattern characterized by moving highs and lows.

A successful breakout of this pattern will signal the beginning of Dogecoin's journey towards reaching $0.20.