The Dogecoin explosion is imminent! Breaking through 0.30 USD is just around the corner!
With the price stabilizing at key support levels, Dogecoin (DOGE) is experiencing a strong rebound. Whales have transferred $149 million worth of DOGE, reigniting market sentiment. From a technical perspective, the chances of breaking through 0.30 USD have significantly increased.
Key trend line rebound, Dogecoin may once again break through 0.30 USD
Dogecoin has been steadily consolidating near a long-term rising trend line, and the support level has been reaffirmed. Recently, the price has hovered around the 0.5 Fibonacci retracement level, with the current price range being between 0.16 to 0.18 USD, close to 0.165 USD. If this support level holds, a rebound may occur in the short term, ultimately breaking through 0.30 USD.
Fibonacci retracement suggests that breaking the 0.30 USD barrier is expected
According to the chart, Dogecoin has rebounded from the 0.5 Fibonacci level, with the next target at 0.213 USD and 0.306 USD. After breaking through 0.213 USD, the price is expected to challenge the 0.30 USD resistance zone, leading to upward momentum.
Surge in trading volume, market interest rises
In the past 24 hours, Dogecoin's price has increased by over 13%, breaking through 0.20 USD. Trading volume surged to $1.77 billion, indicating that buyer sentiment remains active. More importantly, a large transaction involving nearly $150 million worth of DOGE has attracted market attention, suggesting that big investors may be positioning themselves.
Technical breakthroughs and market sentiment driving simultaneously
Recently, Dogecoin has broken through a diamond bottom pattern, which typically indicates a trend reversal. Coupled with the Relative Strength Index (RSI) showing bullish signals, Dogecoin is expected to break through 0.29 USD in the coming days, approaching the breakthrough target of 0.30 USD.
The upward momentum of Dogecoin cannot be ignored, as whale activity and the revival of market sentiment make a price breakthrough of 0.30 USD just around the corner.
