DOGE’s Bullish Divergence Sparks Hopes of Breakout: Rising From a 22% Black Monday Crash!

Dogecoin made headlines yesterday, after a turbulent week ended with a massive 22% fall on the crypto market’s ‘Black Monday’. While HODLers resorted to panic selloffs, DOGE has managed some recovery since the drop. However, it is still down by 11% in the last 7 days. Given that, investors are uncertain about future price action. But some analysts have spotted the silver lining in the cloudy proceedings of the DOGE Price. 

DOGE Hinting at Bullish Divergence, says Kev_Capital

Crypto analyst Kevin (@Kev_Capital_TA) has noticed a promising development in the DOGE price action. The analyst noted DOGE’s bullish divergence in the daily chart. He took to X to announce his findings on April 8, saying that even though DOGE breached an important support line, DOGE managed to close above the $0.138 level. The $.0138 level has been significant for DOGE in the past, which also aligns with the 38.2 Fibonacci retracement from its $0.049 low to its $0.738 peak. This divergence is also corroborated by the Relative Strength Index (RSI), which shows upward momentum even as prices take a hit. 

Charting Guy Expresses Uncertainty

He compared this development to a similar pattern being observed on Bitcoin’s chart. This suggests that Dogecoin’s momentum may finally be losing steam after a series of extended downtrends from the $0.48 high. Another famous analyst, Charting Guy, put his two cents forward on this development. He highlighted that Dogecoin has again arrived at its weekly 200 EMA zone. 

This 200 EMA zone level near $0.13 is a crucial trend marker, he said, further noting that it could determine whether the coin maintains its bullish momentum or succumbs to the bearish pressure. He highlighted that DOGE’s broad price action still reflects higher highs and higher lows on the weekly frame. Analysts also say that a breakout above $0.15 could help further bullish trends, but failure to hold this level may take DOGE to retest deeper supports around $0.08. Given these claims, let’s take a look at the latest DOGE price action and try to form a price prediction for today. 

DOGE Price Analysis: Charts Show Dogecoin Recovery!

DOGE commenced trading yesterday at a price of $0.1476, working between a narrow range from the previous day. DOGE faced resistance at $0.1518. Its advances towards the resistance were rejected sternly, and 1:20, a downtrend began to form. A death cross validated it too, as DOGE descended $0.1404. It seemed to find some stability around that price, but the Black Monday crypto crash hit, as it plunged straight to $0.1301 at 6:50 UTC. The RSI indicated heavily oversold conditions at this point. 

Chart 1: published on TradingView, April 8, 2025

An hour later, a golden cross formed, and an extended uptrend ensued. DOGE climbed confidently, but faced resistance at $0.1416. However, the support trendline kept climbing, as a bullish triangle formed. This led to a momentous upward breakout at 13:50, taking DOGE up to $0.154. This led the market into the overbought zone, and DOGE’s buying spree soon cooled down. The downturn led DOGE to the $0.1441 support. Since then, the DOGE price has been climbing ever so slowly, with $0.1531 resistance strongly in place. At press time, the DOGE price was seen at $0.1504.

DOGE Price Prediction: Can DOGE Go Beyond $0.1531?

The Dogecoin recovery has been commendable. While the bulls push the prices up, broad market factors are still in play. But as of now, DOGE has been facing resistance at $0.1531 for the past few hours. However, it is worth noting that the support trendline has been on the rise as well. Usually, this formation leads to an upward breakout. However, given the situation now, the breakout could face a strict downturn soon, reversing some of DOGE’s progress. For the second half of the day, the DOGE price could bear some good news. 

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