The post Dogecoin Price Eyes $0.30: Fresh Upside to Push Bulls? appeared on BitcoinEthereumNews.com.

Key Insights: Dogecoin price formed an inverse H&S pattern, confirming a breakout and retest on the 15-minute chart. DOGE held $0.225 support at press time and maintained a bullish structure despite the recent 5.8% dip. Derivative data showed mixed sentiment, with longs losing $20M in a recent sell-off. Dogecoin (DOGE) price faced resistance below $0.25 after a sharp pullback. That reflected broader market consolidation. Despite a recent 5.8% correction, technical signals suggested that bulls may still target $0.30 if momentum recovers. Inverse Head and Shoulders Pattern Signaled Bullishness Dogecoin’s short-term price action formed an inverse head and shoulders pattern, a classic bullish reversal structure. This pattern, highlighted by Trader Tardigrade, showed a breakout above the neckline, followed by a successful retest. It confirmed the uptrend continuation. This setup indicated that Dogecoin price remained in a bullish phase despite the recent dip. Source: Trader Tardigrade, X The inverse head and shoulders pattern usually indicates a reliable reversal from bearish to bullish market conditions. This pattern appears when the coin price first records a series of decreasing lows (left shoulder, head), followed by a higher low (right shoulder), and then ultimately breaks through a resistance line (neckline). Since DOGE has now confirmed this formation, there is potential for further gains if conditions in the market improve. Weekly Close Above Key Resistance Indicated Further Gains Adding to the bullish outlook, Rekt Capital highlighted that Dogecoin price recently closed a critical weekly candle above the pre-halving highs. This green resistance level, once a major barrier, now appears to be acting as support. According to the analysis, DOGE reclaimed that key level and was attempting to flip it into a new support zone. Source: Rekt Capital, X This price action suggested that Dogecoin was building a solid base for a larger move toward the $0.27…

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Filed under: News - @ May 13, 2025 9:25 am