Price Analysis

DOGE Price Analysis: Reversal From $0.075 May Plunge Prices By 7%

A bearish reversal from the $0.075 monthly resistance may trigger another bear cycle within triangle pattern, should you buy DOGE now?
Published by
DOGE Price Analysis: Reversal From $0.075 May Plunge Prices By 7%

While the crypto market is going through a slow yet steady recovery, the DOGE/USDT pair rallying with higher low formation reflects growth in bullish momentum. However, the coin buyers failed to surpass the $0.075 resistance despite multiple attempts in the past two months. Furthermore, a long-wick rejection candle at this resistance with a 1.2% intraday loss indicates a potential price correction.

Advertisement

Key points:

  • The DOGE chart shows a formidable barrier at the $0.075 mark
  • The 20 and 50 SMA of the daily time frame chart are flipped to viable supports 
  • The 24-hour trading volume in the Dogecoin coin is $641.5 Million, indicating a 92.5% gain.

Source-Tradingview

A firm resistance level and higher low formation marked by a rising trendline indicate an ascending triangle pattern in the daily time frame chart. Earlier today, the DOGE price showed a 7% gain as it rechallenged the $0.075 neckline resistance; however, the price couldn’t sustain at this level and reverted immediately.

The long-wick rejection attached to the daily candle indicates the sellers are aggressively defending this level. In addition, when the altcoin hit this resistance previously, the prices were usually retraced to the support trendline.

Thus, if the selling pressure persists, the DOGE price may tumble 7% and plunge to the combined support of $0.065. However, under the pattern influence, altcoin should rebound from the support trendline and eventually breach the $0.075.

The resulting rally should rise 27.5% higher and hit the $0.0936 resistance.

While the DOGE price action favors buyers, a bearish breakdown from the support trendline will invalidate the bullish thesis. 

Advertisement

Technical indicator

Relative Strength Index: the daily-RSI slope gradually rising above the midline indicates the positive sentiment is returning to the DOGE price. Thus, the indicator line moving above the neutral line indicates an additional confirmation for triangle breakout.

SMAs: The flattened 20-and-50-day SMA accentuates a short consolidation in price action. However, these slopes trading below the coin price may stall the potential correction at $0.0675

  • Resistance levels- $0.075 and $0.0883
  • Support levels- $0.065 and $0.06
Advertisement

Share
Brian Bollinger

From the past 5 years I am working in Journalism. I follow the Blockchain & Cryptocurrency from last 3 years. I have written on a variety of different topics including fashion, beauty, entertainment, and finance. Reach out to me at brian (at) coingape.com

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • Price Analysis

Pi Network Price at Risk of Another Crash as Mysterious Whale Stops Buying

Pi Network price has crashed by over 90% from its highest level since its mainnet…

October 2, 2025
  • Price Analysis

Solana Price Eyes $360 After Bullish Retest As VisionSys AI Deploys $2B Treasury Strategy

The Solana price continues to capture attention, with renewed focus coming from both analysts and…

October 2, 2025
  • Price Analysis

Cardano Price Forecast As Hashdex Listing Fuels Optimism For $1.27 Breakout

Cardano price continues to draw fresh attention as the market shows signs of renewed strength.…

October 2, 2025
  • Price Analysis

BONK Price Rally Ahead? Open Interest Jumps as TD Buy Signal Flashes

BONK price has drawn attention once again as its chart structure hints at renewed interest…

October 1, 2025
  • Price Analysis

Shiba Inu Price to Surge as Whales Buy and Team Commits to Shibarium Growth

Shiba Inu price has crashed in the past few months, moving from a high of…

October 1, 2025
  • Price Analysis

XRP Price Prediction After Ripple CTO David Schwartz Resigns

XRP price has shown renewed strength in the last 24 hours, recording a modest daily…

October 1, 2025