Market analysis of Dogecoin indicates the potential for continued growth following the completion of a structural breakout from a long-term descending wedge.
RSI Divergence and Momentum Recovery
Dogecoin's daily chart reveals a hidden bullish divergence as RSI resets from overbought levels, signaling improving momentum. The price structure supports this outlook with a higher low, aligning with technical resilience.
Breakout Structure and Target Zones
The weekly chart strengthens the bullish outlook, confirming a breakout above the wedge’s upper boundary with volume expansion. Fibonacci projections identify $0.3757, $0.4884, and $0.6160 as potential upside checkpoints.
Conclusions on Dogecoin's Future
Considering historical reactions around the $0.37 zone, this level presents the first resistance hurdle. A clean break could open the path to higher levels depending on sustained momentum and volume support.
The current market structure for Dogecoin lays the groundwork for tracking potential upside scenarios, sparking interest among market participants.
