Dogecoin has shown signs of strength after rebounding from a crucial support zone, sparking optimism among traders that the popular meme coin could soon regain upward momentum. Following recent volatility, DOGE is currently trading near $0.20, holding steady after a notable recovery from last week’s dip.
Technical data from TradingView indicates that momentum is shifting in favor of buyers. The Relative Strength Index (RSI) has climbed above 59, and the MACD has flipped into positive territory—both pointing to renewed bullish energy in the market.
Crypto analyst Ali Charts noted that Dogecoin has once again tested the lower boundary of its long-term ascending channel and bounced higher. According to his analysis, this rebound could set the stage for a strong recovery phase, with potential price targets at $0.29, $0.45, and even $0.86 if the broader market remains supportive.
The pattern mirrors several previous rebounds where Dogecoin climbed sharply after touching its trendline base. Ali’s chart suggests that if the price sustains above the $0.18–$0.21 range, bulls could take control and push the coin toward mid-channel resistance.
Dogecoin’s resilience also comes as broader crypto sentiment steadies after weeks of turbulence. Bitcoin has reclaimed the $110,000 level, improving market confidence and lifting risk appetite across major altcoins. While DOGE remains far below its previous cycle peak, traders are closely watching whether its established trendline will hold and ignite the next major rally.
A decisive move above $0.21 would confirm bullish control, potentially opening the door to higher price zones highlighted in Ali’s chart. Still, analysts warn that Dogecoin’s momentum will likely depend on sustained trading volume and broader market stability. Any rejection near the $0.21 resistance could trigger a retest of lower levels before another breakout attempt.
As of writing, DOGE is consolidating near $0.20 with growing signs of renewed accumulation—a setup that could prove pivotal in defining its trajectory for the rest of the fourth quarter.
*The information provided in this article is for educational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.*
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**Author**
Alex is a reporter at Coindoo and an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. Alex’s approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
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