Dogecoin is performing well, currently priced at $0.22. Both the highs and lows of Dogecoin have broken through, indicating a potential price reversal. The RSI indicator was previously in an oversold state and is now close to the bullish zone, further suggesting the possibility of an upward move. Although holding Dogecoin with low-leverage swing positions, this setup still appears attractive for short-term traders.
It is noteworthy that the R/R ratio of 6.5 provides an excellent opportunity for investors looking to get into Dogecoin right now. Volume and RSI are key factors driving its further rise.
DOGE short-term target
The upward target for DOGE remains $0.226, followed by $0.24. DOGE has previously failed to maintain this momentum, but if it can hold this level and generate a rebound. However, unless a significant number of buyers return, this may just be a short-term breather rather than the start of a long-term rebound.
If the current momentum continues, Dogecoin could further rise in the near future. If Dogecoin breaks through the $0.30 mark, it may continue to gain momentum and is expected to reach the peak of the current channel. The area between $0.19 and $0.20 is an important support zone.
Long-term target
The trend of Dogecoin ($DOGE) is similar to that of 2024, with upward potential. A rounded bottom and a converging triangle have appeared on Dogecoin's price chart. These patterns suggest that a breakout may be imminent. Resistance is at $0.30, and if broken, it could push up to $0.49, or even reach $0.80 within the year, similar to the trend from $0.18 to $0.49 in 2024.
