Dogecoin (DOGE) shows a strong recovery trend, as technical indicators are moving towards a multi-signal convergence zone.
Analysts monitoring DOGE's price action report that similar patterns are currently emerging and the RSI indicator tends to align. Therefore, a bullish momentum is forming, with the potential for Dogecoin to bounce back to the target price of 0.3 dollars.
The ascending wedge pattern of DOGE recalls previous breakouts.
Notably, the DOGE price chart shows that this memecoin is forming an ascending wedge pattern after completing two rounded bottoms.
Trader Tardigrade notes that this trend has a layout very similar to the developments in 2023 and the first half of 2024.
Additionally, in previous similar cases, each cycle began with a bottom formation, followed by a stable bullish trend, breaking out of the wedge pattern with a significant increase in trading volume.
In the most recent case, the wedge pattern began to form in June 2025. The price of Dogecoin has risen within a consolidation trend, continuously creating higher lows.
This structure is characterized by gradually narrowing price fluctuations within the range of upward-sloping trendlines.
According to chart analyses, the likelihood of a breakout from this pattern will be higher if there was a previous accumulation phase at the support area—especially when the price has previously reacted positively in similar chart areas.
The RSI indicator's upward bounce reinforces the bullish trend within the price channel.
In addition to the ascending wedge pattern, the price is also moving within an upward trend channel on the daily chart.
Since the beginning of April 2025, the upper and lower trendlines of this channel have established a framework for price movement, guiding Dogecoin's price action recently.
The price of DOGE has consistently touched the lower support line and bounced back, moving towards the upper resistance line. This memecoin adheres to the price channel model through multiple cycles, indicating a clear directional trend.
At the same time, the Relative Strength Index (RSI) also records distinct fluctuations, accurately reflecting these price movements.
In June, when DOGE touched the lower boundary of the price channel, the RSI also fell into the oversold zone and began a steady upward trend. This trend has repeated multiple times in the past: each time the RSI bounces up from the 30 mark, DOGE's price experiences a significant recovery.
Currently, the RSI is showing a return to an upward trend, reinforcing the potential for the current bullish phase to extend.
The double bottom pattern reinforces the bullish signal for DOGE.
Another technical indicator appearing on the Dogecoin price chart is the double bottom pattern around the 0.15 dollar support area.
Notably, this price level has served as a strong support area for several months. Recent price movements also indicate that DOGE has touched this area twice, interspersed with an average recovery—suggesting that the double bottom pattern is gradually being established.
If the price of DOGE continues to rise and firmly breaks through the 0.18–0.19 dollar range, it will confirm the double bottom pattern. This could signal a reversal to an upward trend.
A confirmed double bottom pattern often indicates a change in market structure, as sellers lose strength and buyers begin to return. The neckline of the pattern is around the 0.18 dollar level.
Furthermore, breaking through this level could pave the way for higher resistance levels at 0.25 dollars and 0.3 dollars. These price levels correspond to previous support areas that have become resistance on the long-term chart.
At the time of writing, the price of DOGE is trading at 0.18 dollars, up 3.4% in the past 24 hours, holding steady above the 0.17 dollar support area and aiming for a potential breakout around the 0.2 dollar resistance level.