DOGE Technical Analysis: Dogecoin Soon To Reclaim $0.10 Pillar

Key technical points:

Past Performance of DOGE

DOGE price action showcases a rounding bottom reversal with the buyers overtaking control near the psychological mark of $0.050. The double bottom pattern breakout at $0.050 propels the market value higher by 45% over the past week.

Source- Tradingview

DOGE Technical Analysis

The DOGE price jump surpasses the neckline of the rounding bottom pattern at $0.075, with the 5.34% bullish candle forming today. Hence, the candle closing above the neckline will make the bullish breakout official, increasing the likelihood of an uptrend continuation. The DMI indicator shows a bullish trend reversal as the crossover puts the DI lines back in the positive alignment. Moreover, the ADX line takes a sideways turn displaying a lost bearish momentum and a fresh start of bullish trend momentum.

The RSI indicator shows a phenomenal increase in the underlying bullishness as the slope surpasses the halfway line. Moreover, the 14-day SMA mimics the RSI and takes a bullish turnaround from the oversold boundary. The MACD indicator shows a positive trend in the fast and slow lines approaching the zero line after the recent bullish crossover. Furthermore, the rising trend in the MACD histograms reflects a growing buying pressure fueling the uptrend. Hence, the indicators and DOGE price action analysis go hand in hand, displaying a potential rise to the $0.10 mark.

Upcoming Trend

So if the buying pressure sustains to float DOGE prices above the $0.075 mark, prices will skyrocket to the $0.10 mark shortly.

Resistance Levels: $0.085 and $0.10

Support Levels: $0.060 and $0.05