Usman Salis
Dogecoin (DOGE) is showing signs of a potential bullish breakout after retesting the neckline of a classic double bottom pattern. Technical indicators suggest that this support level around $0.2577 may serve as a springboard for further upside, attracting attention from traders seeking trend reversals.
DOGE Price Retests Key Support at $0.2577
Currently, Dogecoin (DOGE) is trading at $0.2577, showing a 6.12% intraday drop. Despite the decline, the price remains above a critical support line that previously acted as the neckline of the double bottom. This retest is a textbook move that could lead to bullish continuation if buyers step in.
The pattern suggests that a successful hold above this level may mark the end of the recent downtrend and the beginning of a new upward move.
Bullish Targets: $0.31, $0.38, and $0.46
If support holds, the projected bullish path for Dogecoin (DOGE) points to short-term resistance at $0.31, followed by $0.38, and possibly $0.46 as the next major target. The chart illustrates a potential zigzag trajectory, forecasting higher highs as market sentiment improves.
These levels align with previous zones of consolidation and breakout attempts, reinforcing their relevance for price action in the coming weeks.
Conclusion
Dogecoin (DOGE) is at a technical crossroads. A confirmed bounce from $0.2577 could trigger a strong upward move, validating the double bottom setup. Traders are watching closely for confirmation as DOGE attempts to reverse its recent correction and resume its bullish trend.
Usman Salis
