Dogecoin Price Prediction: Will $0.26 Breakout Spark New Bullish Run?

Key Insights:

• Over 75% of Binance Futures DOGE traders are long, showing strong bullish sentiment across retail and top accounts for dogecoin price.
• Dogecoin open interest has surged 23.52% in 24 hours to $2.76B, outpacing its 15% price rise.
• The RSI at 79.71 and a breakout above the $0.22 Keltner band signal potential momentum toward the $0.26–$0.28 range.

Dogecoin (DOGE) has gained strong attention after a 15.69% price rally, pushing it to $0.2375. Market data shows high trading activity and positive sentiment.

When writing, traders were now watching the $0.26 level as a possible breakout point. The meme coin has held above a key support, and futures markets showed rising open interest. This setup raised expectations that Dogecoin price could start a new upward trend soon.

Uptrend Holds as 75% of Futures Traders Stay Long on DOGE

Dogecoin price continues to trade above a steady ascending support line, reinforcing the current bullish structure. The pair has bounced from this trendline multiple times, showing that buyers are protecting key levels.

Recent sideways price ranges have ended in upward moves. It is a pattern seen during accumulation phases in strong trends.

DOGE has maintained a sequence of higher highs and higher lows, with no breakdown below recent support. It supports the ongoing uptrend.

Ali_Charts shared that over 75% of positions in Binance Futures were long. The DOGE/USDT long/short ratio stood at 2.83 on Binance and 2.85 on OKX, pointing to bullish sentiment among retail traders.

While global long/short data reflected slight caution, with a 24-hour ratio of 0.929, shorter timeframes showed more short liquidations. This intraday behavior may increase upward pressure as Dogecoin price approaches the key $0.26 level.

Derivatives and Options Data Show Strong Trader Commitment

Dogecoin’s derivatives market saw rising participation as the price trend continued. Open interest in DOGE futures climbed 23.52%, adding $670 million within 24 hours.

That occurred alongside a 15% price gain, indicating that more traders were entering long positions in anticipation of further growth. Trading volume also increased by 14.07% to $7.22 billion, pointing to higher liquidity and potential price support during volatility.

Leverage ratios on both Binance and OKX also surpassed 2.3, reflecting bullish sentiment for investors. According to CoinGlass, the most active traders of Binance had a long/short ratio greater than 3.1 at press time, indicating experienced participants tilting bullish.

Across all platforms, longs dominated shorts by a ratio that is almost three times as much.

Options activity supported this outlook. Volume and open interest increased significantly, with a 26.96% growth in volume to $410.4 million and a 69.35% increase in open interest to $631,910. It reflected a position by traders in anticipation of potential future price moves rather than short bets.

If open interest increases together with the rise in prices, then the rally is strongly supported by a commitment of traders. If used together with technical signals, it reinforces the ability of a push toward the $0.26 price level.

Dogecoin Technical Indicators and Price Forecast

Dogecoin’s RSI indicator was approximately at 79.71 at the time of writing. It is technically an overbought reading, but such readings are common in strong bull runs. In a trend breakout, a high RSI is indicative of confident investors when ascending.

The Keltner Channel increased, and the price rose above the top band. It represents increased turbulence in the market and a clear shift away from the current price consolidation.

The Bollinger Band Percentage was at 0.06458 at press time. It also indicated that the price could continue rising if momentum continues.

Dogecoin price recently crossed the midline resistance of its Keltner Channel. If the price stays above $0.21 and breaks above $0.252, it may target the $0.26 to $0.27 range. The next major resistance zone sits near $0.300, which is also a psychological level many traders may be watching.

Liquidation data shows that more shorts than longs have been liquidated over the past 12 hours. It suggests price squeezes may have occurred during upward moves. During a four-hour period, short liquidations totaled $1.46 million compared to $712.92K in longs.

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