The post Dogecoin Signals Double Bottom Reversal, Hints at $0.25 Breakout appeared on BitcoinEthereumNews.com.

Dogecoin is showing signs of a double bottom reversal pattern. With rising open interest and bullish divergence, DOGE targets a breakout toward $0.25. While meme coins struggle to sustain momentum, especially with Bitcoin crashing below the $108,000 level, Dogecoin is holding steady at $0.21. The DOGE meme coin hints at a potential double bottom reversal, aiming for $0.25 as it attempts to defy broader market trends. Dogecoin Hints at Consolidation Breakout On the 4-hour price chart, Dogecoin maintains a sideways trend between $0.2177 and the $0.25 supply zone. Currently, Dogecoin is consolidating near the lower boundary, facing short-term resistance at $0.2302. Dogecoin Price Analysis This consolidation pattern hints at a potential double bottom reversal, which could challenge the upper resistance level. The $0.2302 resistance acts as the neckline of the double bottom formation. Supporting the potential for upside movement, the MACD and signal lines are on the verge of a bullish crossover. Additionally, the MACD line reflects bullish divergence within the double bottom pattern. However, the Supertrend indicator still signals a bearish trend in motion. The meme coin must break above the $0.2349 level to confirm a bullish reversal. According to Fibonacci retracement levels, a short-term resistance lies near $0.2401, aligning with the 23.60% level. Therefore, the price action suggests multiple short-term hurdles before DOGE can test the $0.25 supply zone. Optimistically, a successful breakout from the double bottom pattern could challenge the $0.25 zone. If Dogecoin surpasses the consolidation range, Fibonacci levels indicate a potential upside target of $0.2680. On the downside, a key support level lies just below the $0.2177 zone, at the previous low of $0.2037. Derivatives Data Signal Mixed Sentiments As Dogecoin hints at a bullish reversal, the derivatives market shows a surge in mixed sentiment. According to Coinglass data, Dogecoin’s open interest has increased by…

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Filed under: News - @ May 29, 2025 5:21 pm