Recently, market analysts have noted a potential bullish trend in the price of Dogecoin (DOGE), based on the analysis of technical indicators and trading volumes.
Dogecoin Long-Term Support
On its two-week price chart, Dogecoin has maintained an ascending support line for 18 months. This support line has proven strong multiple times, indicating sustained trader interest. Analyst Trader Tardigrade noted that each touch has been met with modest to powerful rallies, confirming bullish sentiment in the market.
Hidden Bullish Divergence
In the one-hour chart, a hidden bullish divergence has formed, where rising price lows are paired with falling Relative Strength Index (RSI) values. This structure suggests a continuation of the existing uptrend despite corrections. In this context, DOGE has formed a series of higher lows between $0.162 and $0.165.
Target Zones and Conditions for Dogecoin Growth
According to current technical analysis, Dogecoin is on track towards the next resistance zone between $0.25 and $0.30. Sustained growth above $0.165 and a subsequent breakout at $0.175–$0.18 may act as triggers for reaching these target levels. Additionally, the formation of a "golden cross" on the weekly chart highlights the potential for upcoming surges.
The current technical structure of Dogecoin suggests sustaining support levels and bullish trends that could lead to further price growth in the near future.
