A notable TradingView analyst projects a 364% Dogecoin rally, citing historical patterns and RSI resistance breakout.
Dogecoin’s recent market activity points to increased volatility as short-term price fluctuations continue to unsettle investors. The asset recorded a notable decline from April 5 to April 7, reaching a low of $0.13. Although it recovered slightly on April 10, the price fell again to $0.14 before briefly rebounding to $0.15.
The memecoin’s performance indicators reflect this short-term bearish trend, with a 7-day drop of 5.8%, a 14-day loss of 13.8%, and a 30-day decline of 6.9%. Despite these negative metrics, technical analysts suggest that Dogecoin might be approaching a pivotal inflection point, potentially priming for a major price move.
Technical Setup Signals Possible Upside
A TradingView analyst, with the label without_worries, shares a technical formation based on a 3-day candlestick chart that resembles a breakout structure observed in earlier price surges. He notes a confluence of indicators, including support at historical resistance levels and a breakout in both price action and RSI resistance.
In addition, the chart shows bullish divergence patterns, which, according to the analyst, mirror conditions preceding previous upward trends.
Notably, the same analyst predicted earlier that DOGE could witness a crash when prices were high. This thesis was validated when Dogecoin dropped 70% to the $0.2 level in February.
He now sees potential for an extended upside of over 364%, targeting a long-term price of around $0.67 if current signals evolve into a sustained trend. He also encourages buying dip, especially now that there is blood on the street.
Support at $0.14 Remains Critical
Meanwhile, another analyst, MonoCoinSignal, in a separate assessment, underlines Dogecoin’s relative stability during broader market declines. His report, published Monday, observes that Dogecoin registered a modest 0.11% increase even as the global crypto market lost 4.4% in value. This, he argues, reflects the asset’s resilience under current market pressure.
Despite that, MonoCoinSignal emphasizes that mixed momentum persists. He notes that while whale accumulation continues to support a bullish outlook, macroeconomic concerns—especially related to Donald Trump’s ongoing trade policy shifts—may limit near-term price growth. He identifies $0.14 as a critical support level, warning that any sustained break below could reverse recent gains.
Short-Term Resistance at $0.15
In terms of immediate price action, the path to $0.16 remains contingent on Dogecoin breaking the $0.15 resistance with a strong trading volume.
MonoCoinSignal states that a confirmed move beyond $0.16 could set the stage for further gains, potentially allowing DOGE to revisit the $0.20 mark.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
