Dogecoin has extended its decrease below $ 0.17 in the last 24 hours, but now it is flashing one of the most bullish signals in years. According to a recent technical analysis published on the TrainingView platform, Dogecoin seems to be bouncing in the lower trend line of a multi -year descending triangle that could push it Its maximum of 2021 of all time.
Breakout confirmed above key technical zones
The analysis, based on The Dogecoin / Tether US couple in Binance, examines the action of the meme currency price on the weekly list of the candlestick term. According to the table below, Dogecoin has been locked in a bearish trend since he registered a maximum of several years of $ 0.48 in December 2024. This descending movement has remained consistent during the last 17 weeks, forming a series of lower and lower high ups and downs. Although there were brief periods of recovery, especially one or two green weekly candles, they were finally dominated by the prevailing lower trend.
The action of the recent price at the beginning of March saw that Meme’s currency broke below the support levels and essentially eliminates most of its previous prices profits in the fourth quarter of 2024. This bearish trend slowed towards the end of the month, which led to the formation of some indecision candles that suggest that an investment could soon arrive. Interestingly, this deceleration movement has caused Dogecoin’s price to begin to exhibit What could be a reversal? From the lower trend line of a descending triangle that has been in formation since 2023.
This rebound intensifies even more by the Powerful power above The Ichimoku cloud, which is a good resistance indicator and tendency direction. This rupture is seen as confirmation that Dogecoin is gradually changing from a prolonged bearish phase.
Objective of $ 1 in mid -2025, but setback at $ 0.4 possible
A possible rebound is taking shape when the analyst described a scenario in which Doge extends his promotion through a trend channel made of integrated into a larger triangle formation. If you have no obstacles, this upward movement will see the breakdown of the meme coin above its current maximum of $ 0.73 and finally broke the price level of $ 1 in mid -2025.
Although there is more upward potential after breaking $ 1, the analyst suggested that Dogecoin could go through a setback to $ 0.43 from here, which will serve as a strong support zone and a reestima point after the breakup. If this level is maintained, Dogecoin could resume its up up to $ 1 again and finally reach $ 2.
These price objectives look good in a long -term period of time, but it depends on how doge It is done in the short term. At the time of writing, Dogecoin is quoted at $ 0.1659, at 1.48% in the last 24 hours. Any upward perspective will depend on If the meme currency can contain above $ 0.17 and push above $ 0.2 before the end of the month. However, A break below $ 0.15 It could destabilize any bullish impulse.
Outstanding image of Adobe Stock, TrainingView.com box
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