TLDR:
- DOGE formed a bullish rounded bottom pattern after dropping from $0.205 to $0.130
- Currently trading around $0.18, facing resistance at $0.1750-$0.1840
- A key bearish trend line exists with resistance at $0.1740
- Major support levels are at $0.1700, $0.1680, and $0.1600
- Technical indicators show the price could rally if it breaks above the $0.19-$0.20 range
Dogecoin has been showing mixed signals in recent price action, with technical analysts identifying both bullish patterns and challenging resistance levels. The popular meme cryptocurrency has completed what experts call a “bullish rounded bottom” pattern, suggesting a potential trend reversal after weeks of downward pressure.
The rounded bottom formed after DOGE experienced a prolonged downtrend from the $0.205 zone to a low of $0.130 during early April. This U-shaped curve in the price chart shows two key lows—the first bottom around $0.13009 and a second higher low near $0.15217.
This pattern typically indicates that sellers are losing momentum while buyers are gradually gaining strength. The structure suggests a shift from bearish to bullish territory may be underway.
$DOGE has completed a bullish rounded bottom and is steadily pushing higher with strong momentum.
The breakout is gaining strength, and buyers look ready to drive the price toward fresh new highs soon.#Dogecoin #TradingView pic.twitter.com/7m10gPn08D
— BitGuru 🔶 (@bitgu_ru) April 28, 2025
DOGE started a fresh increase above the $0.1650 resistance recently, climbing above $0.1720 and $0.1750 before encountering resistance. The price reached a high of $0.1920 before starting a fresh decline.
Range-Bound Trading
The cryptocurrency has been moving sideways in two distinct range-bound periods over recent weeks. During these phases, DOGE has exhibited what analysts call “false break” behavior.
In the first observed range, Dogecoin witnessed a false breakdown, dipping below support before recovering. This move was followed by a false breakout, where the price surged above resistance but quickly retraced.
#Dogecoin has been moving within different Ranges, experiencing both false breakdowns and breakouts.$Doge has now returned to its current range. 🔥
Soon, $Doge is expected to break out, potentially sending it higher 🚀 pic.twitter.com/MBIpHKcDwN— Trader Tardigrade (@TATrader_Alan) April 29, 2025
Currently trading at approximately $0.18, DOGE has entered a consolidation phase above its breakout zone. This suggests underlying strength and a possible continuation of an upward trend if key resistance levels can be overcome.
There is a bearish trend line forming with resistance at $0.1740 on the hourly chart. This trend line coincides with the 61.8% Fibonacci retracement level of the recent downward move.
The first major resistance for bulls appears near the $0.1840 level, with the next significant barrier at $0.1850. A successful close above this resistance might push the price toward the $0.1920 level, with $0.200 representing a major psychological target.
Support on the downside exists near $0.170, with additional support at $0.1680. The main support sits at $0.1600, and a break below this level could trigger further decline toward $0.1550 or even $0.1450.
Technical indicators show mixed signals. The MACD for DOGE/USD appears to be losing momentum in the bearish zone, while the RSI remains above the 50 level, suggesting modest bullish pressure.
Analysts note that after multiple failed attempts to break out of its trading range, Dogecoin may be primed for a true breakout. A decisive move above the $0.19-$0.20 resistance zone would confirm the bullish setup and signal strong upward momentum.
The price is currently trading below the $0.180 level and the 100-hourly simple moving average, which could act as resistance for any recovery attempts.
For now, DOGE remains at a critical juncture. The completion of the bullish rounded bottom pattern provides hope for buyers, but the cryptocurrency must overcome several resistance levels to confirm a new bullish phase.
Most recent data shows DOGE trading at $0.175 on the daily chart, as the market closely watches for signs of the next major move.
