Dogecoin demonstrates early signs of growth amid the formation of a Falling Wedge and positive signals from the RSI and MACD indicators.
Formation of Pattern on Dogecoin Chart
Dogecoin is forming a breakout structure using a Falling Wedge on the hourly chart. According to trader Tardigrade, the price has been consolidating between $0.098 and $0.072 since March 23, 2025. The apex of the wedge is projected around May 5, suggesting a breakout point. The RSI indicator has rebounded from oversold conditions and now trends above the neutral 50 level, indicating a momentum shift.
Key Support and Resistance Levels
Dogecoin is revisiting a support zone that previously triggered a sharp rally. According to Blockchain.com, active wallet addresses rose from 150,000 to 180,000 between March 23 and April 15, indicating increased on-chain activity.
Growth Prospects for Dogecoin
Analyst Ali Martinez stated that a daily close above $0.17 could open the door to $0.21 or $0.29 if momentum holds. The $DOGE/BTC pair showed a 10% daily range on April 15, while $DOGE/USDT remained more stable with a 5% range.
Current technical indicators and historical price action indicate the potential for significant Dogecoin movement soon, as traders watch volume and resistance levels for confirmation.
