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Dogecoin Eyes Bounce from Key Trendline: $0.30 in Sight?
By: bitcoin ethereum news|2025/05/08 21:00:08
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Dogecoin (DOGE) is showing signs of holding a critical ascending trendline that has acted as support since October 2024. According to a recent analysis by @ali_charts, a pullback to the $0.14 level could offer a prime accumulation opportunity before a potential breakout. The weekly chart highlights a clean technical structure, with DOGE currently trading around $0.17, just above the 0.5 Fibonacci retracement level. If this support holds, the chart suggests a possible rebound targeting the 0.786 Fibonacci level at $0.30, which also aligns with previous resistance zones. The trendline, which extends from DOGE’s late-2023 breakout, has successfully cushioned past retracements. A bounce from this zone, combined with improving sentiment across meme coins and altcoins, could mark the start of a bullish leg higher. However, failure to hold above this trendline may invalidate the setup and expose DOGE to further downside toward the $0.13–0.12 range. Reporter at Coindoo Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets. Related stories Next article !function(f,b,e,v,n,t,s){if(f.fbq)return;n=f.fbq=function(){n.callMethod?n.callMethod.apply(n,arguments):n.queue.push(arguments)};if(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version='2.0';n.queue=[];t=b.createElement(e);t.async=!0;t.src=v;s=b.getElementsByTagName(e)[0];s.parentNode.insertBefore(t,s)}(window,document,'script','https://connect.facebook.net/en_US/fbevents.js');fbq('init','1188189499475368');fbq('track','PageView'); Source: https://coindoo.com/dogecoin-eyes-bounce-from-key-trendline-0-30-in-sight/
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