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, with the Relative Strength Index (RSI) climbing above 59 and the MACD flipping into positive territory – both pointing to renewed bullish energy in the market.
Analyst's Perspective on Dogecoin's Ascending Channel
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. The analyst’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.
Broader Market Sentiment and Dogecoin's Resilience
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.
Future Trajectory and Potential Triggers
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 $0.200 with growing signs of renewed accumulation – a setup that could prove pivotal in defining its trajectory for the rest of the fourth quarter.
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