Dogecoin (DOGE) Price: Flashes Upside Signals Following 50-Day Downtrend
TLDR
Dogecoin broke above a 50-day bearish trendline, signaling a potential trend reversal
DOGE price bounced from $0.1565 lows to reach $0.1726 before consolidating above $0.1650
Technical indicators show TD Sequential buy signal on 3-day chart pointing to possible rally
Key resistance levels at $0.1720 and $0.1800 remain challenges for sustained upward movement
Analysts target $0.21 if DOGE can reclaim $0.17 level with current bullish momentum
Dogecoin has shown signs of recovery after breaking above a key bearish trendline that dominated price action for over 50 days. The meme coin started a fresh increase from the $0.1565 zone, climbing above multiple resistance levels.
DOGE managed to push above the $0.1600 and $0.1620 resistance levels during its recent bounce. The bulls drove the price above $0.170 resistance, with a peak formation at $0.1726 before entering a consolidation phase.
The breakout above the bearish trendline at $0.1640 marks a potential shift in momentum. This technical development has caught the attention of analysts who see it as a possible end to the extended bearish pressure.
Current Price Action and Support Levels
Dogecoin is currently trading above the $0.1650 level and the 100-hourly simple moving average. The price experienced a minor decline below the 23.6% Fibonacci retracement level of the upward move from $0.1565 to $0.1726.
Source: TradingView
Initial support sits at $0.1650, which aligns with the 50% Fibonacci retracement level. The next major support level is located at $0.1620, with the main support zone at $0.1560.
If DOGE breaks below the $0.1560 support, the price could decline toward $0.150 or even $0.1450 in the near term. This would invalidate the current bullish structure and potentially resume the downtrend.
Technical Indicators Point to Bullish Momentum
The Tom DeMark Sequential indicator has flashed a buy signal on the 3-day chart. This technical signal often precedes upward price movements and has drawn attention from market analysts.
If Dogecoin $DOGE can reclaim $0.17 — and with the TD Sequential buy signal now present on the 3-day chart — it could unlock a rebound toward $0.21. pic.twitter.com/BkVgxNdihW
— Ali (@ali_charts) June 28, 2025
Trader Tardigrade noted that DOGE’s Average Directional Index shows a lower low on the weekly timeframe. This pattern historically appeared before major bull runs in 2017 and 2020, preceding the 2021 rally.
The current microstructure shows a new higher low and higher high formation on the daily chart. A second higher low would confirm a trend reversal from bearish to bullish sentiment.
Resistance Levels and Price Targets
Immediate resistance on the upside sits near the $0.1710 level. The first major resistance for bulls is at $0.1720, which needs to be cleared for sustained upward movement.
The next resistance level is at $0.1750, followed by $0.180. A close above $0.1750 could send the price toward the $0.180 resistance zone.
Technical analyst Ali Martinez has identified $0.17 as the next crucial level to watch. If DOGE can reclaim this level with the TD Sequential buy signal active, a rebound toward $0.21 becomes possible.
Further gains above $0.200 might target the $0.2120 level. Long-term forecasts suggest potential for much higher targets if the bullish momentum continues through the current market cycle.
The hourly MACD for DOGE/USD is losing momentum in the bullish zone, while the RSI remains above the 50 level, indicating neutral to slightly bullish conditions.
The post Dogecoin (DOGE) Price: Flashes Upside Signals Following 50-Day Downtrend appeared first on CoinCentral.
Filed under: News - @ July 3, 2025 8:29 am