A series of positive signals from technical charts and social media has reignited discussions on Dogecoin potentially reaching $1.
RSI Points to a Potential Rebound Zone
On March 28, trader Tardigrade flagged Dogecoin's weekly relative strength index (RSI) as a potential bottoming signal, with momentum indicators supporting DOGE's strength. Trader Fisher provided a broader technical view, noting that RSI at 79.31, MACD crossover, and KDJ reading at 85.94 are each historically bullish.
Will Dogecoin Price Repeat Its 2024 Breakout or Crash Below $0.09?
Dogecoin's price currently hovers near a red descending trendline, which acted as support during the September 2024 rebound. Analyst Master Kenobi highlighted two key support zones: the red trendline and a horizontal level at $0.0900. If bulls defend the trendline, DOGE could target the $0.1100–$0.1200 zone.
DOGE Must Hold Support or Risk Reversal
If Dogecoin price holds above $0.0900, traders expect a push toward the $0.1100–$0.1200 zone. However, failure to do so could trigger deeper downside moves and completely reset market momentum. Breaking below both support levels would imply a significant change in market sentiment.
Dogecoin's next price move will depend on whether the red trendline acts as a platform for growth or leads to a decline. Blockchain activity and trader support may play crucial roles in the price movement.
