DOGE meme coin price prediction: Breakthrough key resistance regains upward momentum, rebound towards 0.43 USD.

DOGE regains upward momentum, temporarily reporting 0.2128 USD in the Asian afternoon session today (17), attracting the attention of traders and analysts. This follows a technical breakout pattern and a bullish candlestick pattern. Therefore, this indicates a change in market sentiment, potentially marking the beginning of a broader bullish trend.

DOGE Price Analysis

DOGE has just formed a hammer candlestick pattern on the daily chart, and after touching an intraday low of 0.185 USD, it closed above 0.192 USD.

This pattern is usually associated with the reversal of an upward trend and appears at the end of a downward trend or consolidation wave.

(Source: Tardigrade, Trading View)

Therefore, sellers suppressed the DOGE price during the trading session, but buyers regained control at the close.

This candlestick chart happens to form at a horizontal support area, which has acted as a local bottom multiple times in previous consolidation patterns. Technical analysts usually regard such signals as a sign of the beginning of an upward trend.

In this situation, the hammer candlestick pattern aligns with the increase in trading volume, further reinforcing the view that the market trend may reverse.

DOGE price breaks through the 0.2 USD resistance level

Meanwhile, DOGE has risen over 7% in the past 24 hours and approximately 17% in the past 7 days. The price of this meme coin has increased from $0.17 to over $0.20, indicating a short-term bullish sentiment.

(Source: Trading View)

This surge occurred after a prolonged sideways movement in the region, while several attempts to break through the bullish zone of $0.18 to $0.20 have failed.

DOGE price breaks through the descending wedge pattern, heading towards 0.43 USD.

In addition, another analyst pointed out that DOGE recently broke through the descending wedge pattern formed in early June. The descending wedge is typically a bullish continuation pattern, especially common when the market is undergoing a pullback within a broader upward trend.

The breakout point is at 0.175 USD, and the current price has confirmed a breakout above 0.20 USD.

(Source: Flash, Trading View)

In addition, based on the measurement results of the widest part of the wedge pattern, the predicted target price is approximately $0.43. This price range aligns with the resistance levels from mid-2021 and early this year.

Based on the historical interactions between price and trading volume clusters, analysts have also identified the price range of $0.25 to $0.30 as a medium-term area of interest.

Breaking through long-term resistance may indicate a stronger upward trend

In addition, a key move is to break through the downward trend line that has acted as resistance for several months since mid-2023.

Analyst CryptoKaleo shared a chart showing that DOGE has broken through this resistance level and entered a parabolic curve of historical highs.

(Source: Kaleo, Trading View)

In addition, the projected path is developing towards the 0.7-0.75 dollar range — which is the top area for DOGE in the last bull market cycle.

This breakthrough occurred after the dome-shaped accumulation phase that began at the end of 2022, and is seen as a potential trend reversal on a macro level.

Recent analysis indicates that the DOGE price has formed a repetitive pattern (fractal) structure, further strengthening the bullish breakout signal.

The analysis also pointed out that the number of active addresses has increased, and the price is approaching the 1.618 Fibonacci extension level near 0.351 dollars.

This indicates that users' attention and intensity towards the DOGE price chart and on-chain data are increasingly growing.