【Dogecoin Soars! Price Breaks Key Range, Future Breakthrough of $0.30 Seems Certain!】

Dogecoin (DOGE) has shown strong performance recently, breaking through a key descending wedge pattern, and market sentiment is high. As the price rebounds and breaks through several technical support levels, the future rise of DOGE is highly anticipated, and it may next break the $0.30 barrier!

Dogecoin Price Breaks Key Range, Bullish in the Short Term

Dogecoin's price has rebounded 11.36% from $0.1643, confirming a break above the descending wedge pattern, with short-term targets pointing to $0.2561. Recently, the DOGE price has successfully maintained above the crucial support line of $0.20, further solidifying market bullish sentiment towards it.

Strong Buying Pushes Rebound, Trendline Support Significant

Since the beginning of 2023, DOGE has remained above a long-term upward trend line. The price strongly rebounded after touching the range between $0.165 and $0.200, indicating that this range is an important buying support level. With increased market activity and long positions, the upward momentum of Dogecoin is further validated.

Breakthrough of Descending Wedge Pattern, Price Target $0.300

Dogecoin successfully broke through the descending wedge pattern on the 4-hour chart, with the price rebounding to $0.1810 and further approaching the key Fibonacci retracement level of $0.1860. If the price continues to break through, DOGE is expected to reach $0.2042 to $0.2061, and may eventually break the $0.30 barrier.

Strong Market Sentiment, Continued Bullish Support

According to the latest data, the open interest in DOGE futures has increased by 7.19% in one day, and market sentiment is turning increasingly bullish. 67.84% of traders maintain long positions, showing strong confidence in DOGE's future rise.

Future Target Aimed at $0.300, Risks Remain Manageable

With the positive market sentiment and capital inflows, Dogecoin may break $0.300, further challenging new highs. However, if the price falls below the support level of $0.1642, the next retracement target may be in the $0.1283 region.