Eseandre Mordi
Dogecoin (DOGE) is once again catching traders' attention as it stabilizes around $0.19, holding firm on a long-term uptrend line after months of sideways movement. This pattern has many analysts eyeing a potential setup for renewed upside momentum.
Dogecoin Shows Strength After Prolonged Consolidation
The meme coin favorite appears to be finding its footing near the $0.19 mark. Galaxy, a crypto analyst recognized for his long-term chart work, recently called DOGE below $0.20 "crazy cheap," hinting this could be a solid accumulation zone. His view fits well with what the charts are showing: after a brutal downtrend from 2021 to 2022, Dogecoin entered a long accumulation phase throughout 2023, and since early 2024, it's been riding a steady uptrend backed by a rising support line.
The weekly chart tells an interesting story. Price has bounced repeatedly off the same ascending trendline, proving there's genuine buying interest whenever it drops to that level. The latest retest happened right around $0.19, with multiple touches and quick pullbacks confirming this zone works as both psychological and technical support. Resistance is sitting near $0.21–$0.22, a range that's previously blocked recovery attempts. Breaking cleanly above this area would signal bullish momentum is back, while staying above $0.18 keeps the broader uptrend alive.
Market Context and Outlook
Dogecoin's strength comes at a time when the broader crypto market is looking healthier, with Bitcoin holding key levels and money flowing back into riskier assets. Historically, DOGE thrives during market expansion phases, and the current setup has some similarities to earlier cycles. Short-term choppiness is still likely, but the long-term structure looks solid. As long as Dogecoin keeps holding above that rising trendline, a sustained move toward $0.30 and higher remains a real possibility.
Eseandre Mordi
