Dogecoin Flashes Buy Signal, Analyst Predicts $0.100 Price Target For DOGE if Key Level Holds

According to crypto trader Ali, the TD Sequential indicator recently presented a buy signal for Dogecoin (DOGE) on its 3-day chart. He notes that as long as the key support around $0.074 continues holding, Dogecoin has a strong chance of rebounding higher to the $0.10 level or above.

Technical Analysis

AltFINS provided further technical analysis around the emerging channel-down pattern and support/resistance:

  • Pattern: Trading in channel-down formation, with support around $0.07.
  • Stage: Emerging pattern
  • Trade Setup:
    • Trend traders can wait for a breakout above the pattern for long setup targeting. $0.10/$0.11
    • Swing traders can look to enter longs near $0.07 support.
  • Trend: neutral short-/medium-term, uptrend long-term
  • Momentum: Mixed – Bearish MACD crossover but nearing swing higher
  • Support: $0.08, $0.07
  • Resistance: $0.10, $0.11
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The analysis notes that the $0.07 level is a robust support area based on the confluence of the channel support line, horizontal support, and 200-day moving average all lining up around that price zone.

With Dogecoin maintaining above the key support confluence around $0.07, the technical picture looks constructive for a continued relief rally, at minimum back up to test the $0.10 area in the near-term.

Both the pattern setup and momentum indicators suggest upside potential remains. As such, traders may look to adopt bullish strategies while respecting the identified support and resistance thresholds.

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Vignesh Karunanidhi
Vignesh Karunanidhi

Seasoned crypto writer with deep passion for blockchain and cryptocurrency