The price of Dogecoin is expected to break through in the coming days, with cryptocurrency analysts emphasizing the key catalysts that could drive this rebound. Despite weeks of sideways consolidation and ongoing selling by whales, attention is now shifting towards emerging technical indicators and the potential Dogecoin ETF, as they may trigger a price explosion this week.
ETF Hot Signal: Dogecoin price surges this week
According to a TradingView analyst named 'CryptoJobs', the first Dogecoin ETF may be listed in the U.S. as early as next week, which could lead to an explosive surge in price. This development would mark a significant milestone for the popular meme coin, granting it unprecedented visibility and legitimacy within the broader financial system.
Historically, the approval of ETFs has often driven up the entire cryptocurrency market, with Bitcoin and Ethereum seeing significant gains following similar announcements. In addition to the hype surrounding ETFs, CryptoJobs highlighted a key technical indicator that further illustrates Dogecoin's bullish price outlook.
They noted that Dogecoin is forming a classic descending wedge pattern on its 4-hour chart. Based on past trends, this pattern is seen as a bullish reversal signal, typically indicating an impending upward breakout. The chart also shows that Dogecoin is in a robust mid-term accumulation phase and is consolidating near key levels.
These key price levels align with long-term support, and CryptoJobs believes that this support is between $0.205 and $0.207. As the price consolidates within a descending wedge, analysts predict that a breakout of at least 15% could occur as early as next week, potentially driven by news regarding a Dogecoin ETF.
The chart indicates that if Dogecoin maintains its bullish momentum, it could rise to $0.26. Further upward targets are expected around $0.277 and $0.28, while key support levels are located between $0.21 and $0.19.
Analysts have identified two short-term targets for Dogecoin (DOGE).
Another widely followed TradingView analyst, Klejdi Cuni, shared his views, highlighting two clear targets for Dogecoin's next upward move. Cuni emphasized the strong support level around $0.207, which has repeatedly served as a springboard for price rebounds over the past month.
Each time Dogecoin tests this level, it rebounds with strong bullish momentum, enhancing market confidence in this area as a foundation for price increases. This market expert noted in their latest chart analysis that Dogecoin may slightly retrace to the range of $0.213 to $0.216 before momentum resumes.
From here, his main upward targets are $0.23 and $0.24. These levels represent areas where prices previously faced resistance, making them realistic short-term goals for traders closely monitoring the market. The small bullish continuation pattern forming on the Dogecoin price chart further supports Cuni's optimistic forecast.
