The post Dogecoin Price Eyes Spike Above $0.4 With This Channel Break appeared on BitcoinEthereumNews.com.

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure Dogecoin has quietly broken out of a long-term descending channel on its daily chart, opening the door for a sustained upside move. The memecoin, which has been trading within a consistent pattern of lower highs and lower lows since December 2024, is now undergoing a retest of the channel’s upper trendline after a modest rally earlier in the week. According to a recent technical analysis posted by MMBTtrader on TradingView, Dogecoin could be preparing for a sharp upward movement provided it successfully completes a retest of the upper trendline. Dogecoin Breaks Downtrend Channel; Retest Now Underway According to the technical outlook proposed by the crypto analyst, Dogecoin has been locked within a descending channel on the daily timeframe ever since hitting a multi-year high of $0.48 in December 2024. The structure has been clearly defined by a pattern of lower highs and lower lows, painting a bearish landscape over the past several months.  March, in particular, intensified this downward momentum as the broader crypto market faced steep losses in the first half of the month. However, Dogecoin’s move to $0.205 earlier this week marked its first real attempt at a breakout. That brief rally pushed the price above the upper trendline of the channel, marking a break above the psychological $0.2 price level that looked like the start of a recovery run. Source: MMTrader on Tradingview As the month nears its end, Dogecoin has slightly retraced from its break above $0.2. The coin has dropped 4.2% in the past 24 hours and is currently trading at $0.1746, hovering precisely at the upper trendline of the broken channel. This level now functions as a potential support zone and the outcome of this retest will likely determine the short-term…

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Filed under: News - @ March 30, 2025 4:58 am