Dogecoin Price Prediction: Here are the reasons why bulls should prepare for a 20% rebound

Dogecoin has shown a bullish response at the range low, and the CMF indicator has recently suggested a significant influx of capital.

Dogecoin's weekly structure indicates a long-term outlook and suggests consolidation in the coming weeks.

Swing traders will be buoyed by Dogecoin's pullback at $0.142 and may look to go long.

Dogecoin [DOGE] has retested the $0.142 support level since April, when this support was the range low.

AMBCrypto's analysis indicates that although Dogecoin rebounded in May, there are still reasons to believe its trading range remains intact.

The weekly chart presents a bullish oscillating structure, with Fibonacci retracement levels drawn from the low and high of this oscillation, which formed at the end of 2024.

The leading memecoin has not yet broken below the oscillation low of $0.089, but its internal structure (sub-structure) shows a bearish trend.

To reverse this internal structure bullishly, Dogecoin must break through the local high of $0.259.

OBV has retested the lows from March, while the RSI indicator shows that bearish momentum is prevailing. The low trading volume over the past two months suggests a potential entry into a consolidation phase.

The range pattern from March to April warrants further exploration.