Dogecoin Price Prediction: $0.30 Breakout Amid Bullish Indicators?

The recent technical setup of Dogecoin (DOGE) price indicated a possible bullish trend in the long run, with both long and short moving indicators of momentum pointing in the same direction. These activities were monitored by market analysts as price setups and trading volumes assume specific patterns.

Dogecoin Price Long-Term Support Holds

On its 2-week price chart, Dogecoin price has maintained an increasing trendline support line over 18 months. The trendline, observed in the 44 two-week candlesticks, has been a strong price support multiple times.

Analyst Trader Tardigrade noted that every touch was met by a modest-to-powerful rally, indicating that traders remain bullish.

Since late 2023, DOGE price has moved in cycles that return to this ascending support before advancing to new short-term highs. Most recently, the meme coin rebounded near the $0.15–$0.16 area, where the trendline currently intersects.

This technical trend suggests ongoing interest from investors who are buying dips near this zone.

During this period, Dogecoin price reached local tops above $0.40 and $0.20 in distinct waves. The meme coin has not broken the upward trendline despite corrections, as it keeps the larger formation in order.

The 2-week chart has already warned of another possible cycle extension, targeting a mid-range in the area of 0.30.

Hidden Bullish Divergence Forms

In the shorter timeframe, Trader Tardigrade noted that a hidden bullish divergence has emerged on the Dogecoin price 1-hour chart.

This pattern is defined by rising price lows paired with falling Relative Strength Index (RSI) values. Such a structure suggests a possible continuation of the prior uptrend rather than a full reversal.

Moreover, the 1-hour candles show DOGE forming a series of higher lows between $0.162 and $0.165, while the RSI simultaneously prints lower lows.

These conflicting movements are normally signs of strength in the asset, even though momentum indicators temporarily fall.

A continuation setup, usually hidden bullish divergence, is interpreted when it is found in consolidation phases.

Convergence of Bullish Patterns Across Timeframes

More so, the technical convergence of the 2-week trendline support and the hourly hidden bullish divergence provided a multi-timeframe argument for a potential move upward.

The patterns that coincide in both macro and micro charts tend to be more popular among technical traders.

Structurally, the long-term trendline has not been positively broken since the end of 2022. At the same time, the 1-hour chart is forming a pattern that is likely to be followed by a trend.

When both timeframes reflect potential upward movement, this is a favorable alignment.

Volume data has remained stable in recent sessions, but if DOGE price begins to rise from $0.165, confirmation could arrive via increased activity and breakout candles.

If DOGE reclaims hourly resistance levels while maintaining support on the higher time frames, analysts suggest the $0.30 level could become a near-term objective.

Dogecoin Price: Target Zone and Conditions for Continuation to $0.30

In the meantime, continuing the same technical framework, Dogecoin price is poised to hit the next area of technical resistance between the price levels of 0.25 and 0.30. That zone has been a supply level during earlier periods of the rally in early 2024.

As of the time of writing, Dogecoin price was trading above $0.161. A clear push past $0.175–$0.18 could serve as a trigger toward the $0.25–$0.30 zone.

Recent analysis shows a golden cross forming on Dogecoin’s weekly chart. The 10-week SMA is nearing a crossover above the 20-week SMA, signaling a near-term breakout.

Coupled with the increasing open interests, bullish long/short ratios, and Fibonacci targets of $0.4355 and $1.179, the resistance at $0.22 was a key level to trigger an additional surge.

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