Saad Ullah
Right now, DOGE is trading above its two-year moving average (2Y MA)—a level that's historically signaled the start of bullish reversals.
Technical Overview: DOGE Trades Within a Long-Term Channel
Dogecoin ($DOGE) is back on traders' radars as a promising technical pattern suggests the possibility of another big run. In a recent post, Cryptollica shared a long-term chart targeting $1.30, hinting that the world's most famous meme coin might be gearing up for its next breakout. The chart reveals Dogecoin's multi-year ascending channel, with bottom support around $0.07 and top resistance near $1.25–$1.30. This structure has framed DOGE's price action since 2021, capturing all major highs and lows across multiple cycles.
Here's what stands out:
- 2-Year MA Support: DOGE is holding above its long-term moving average around $0.18–$0.19—a zone that's repeatedly acted as a springboard for rallies in the past.
- Midline Resistance (~$0.36): Multiple rejections at this mid-channel level (marked with red arrows) make it a crucial breakout point.
- Higher Lows Forming: Green triangles at $0.055, $0.09, and $0.12 show a consistent upward base—bullish over the long haul.
- Potential Targets: A solid break above $0.36–$0.49 could pave the way toward $0.75, with the ultimate "TopLine" target sitting at $1.25–$1.30.
- Momentum Indicators: The momentum and volume histogram below the chart shows steady accumulation, similar to what we saw before prior rallies in 2021 and 2023.
- Historical Pattern: Dogecoin's behavior has been cyclical—long stretches of quiet accumulation followed by explosive surges. The last time DOGE bounced off the 2Y MA, it gained over 200% in a matter of months.
- Broader Catalysts: Dogecoin's enduring popularity among retail traders, ongoing speculation about integration into Elon Musk's X payment network, and altcoin rotation during Bitcoin consolidation phases all support the technical setup.
Long-Term Projection: Path Toward $1.30
The $1.30 target from lines up with the upper edge of Dogecoin's channel and matches Fibonacci extension zones from previous peaks. If DOGE breaks above the midline around $0.36 and holds a rally past $0.49, the next logical stop would be $0.75, followed by the long-term goal of $1.25–$1.30.
That would mean a five- to sixfold increase from current prices—ambitious, sure, but totally in line with Dogecoin's wild historical swings. Despite short-term chop, DOGE's current correction remains well within its established upward channel, suggesting the structure is still solid.
Saad Ullah
