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Dogecoin Forms Bullish Base Near $0.17394 With $0.80055 Target in Technical Sight
By: cryptofrontnews|2025/05/03 17:15:01
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DOGE rebounds from $0.15217, forming a strong cup pattern with bullish potential.Price lifted from $0.13009 to $0.179, marking a solid recovery phase.Long-term trendline supports a possible 600% breakout toward $0.80055.Dogecoin (DOGE) is stabilizing above key support levels, signaling renewed bullish momentum across multiple timeframes. Analysts have identified recurring technical patterns that may support a significant upward price move.DOGE Holds Key Levels as Analysts Track Short-Term BehaviorTechnical analyst BitGuru has provided additional insights into Dogecoin’s recent price behavior, focusing on a rounded bottom formation on the 4-hour chart. This pattern emerged before DOGE advanced from $0.15217 to a local high near $0.179, signaling renewed bullish interest. BitGuru’s analysis aligns with broader technical signals indicating early recovery structures.Source: BitGuruRecent chart patterns reveal that Dogecoin is developing setups supported by strong short-term momentum and cyclical price behavior. Buyers are reacting consistently to key support and resistance levels, forming a base for potential continuation. Analysts now monitor these zones closely for validation of sustained upward movement or possible breakdown.According to BitGuru, DOGE completed a cup-shaped recovery, lifting from $0.15217 after a major dip from $0.20576. His analysis shows clear market cycles beginning with an early attempt to pull back near $0.17945. Price then surged to $0.20576 before entering a confirmed downtrend, falling through support zones.A sharp selloff dropped DOGE to $0.13009, marking the lowest level on the chart. After this, the asset gradually climbed to $0.16661 before retracing to $0.15217. BitGuru described the recent uptrend as “bullish beauty,” indicating a technical structure likely to support continuation.The current price holds above $0.17394, with the next resistance near $0.1850. BitGuru mentioned that if this level holds, DOGE may attempt a breakout beyond recent highs. His focus remains on short-term support and resistance, without referencing macroeconomic factors.Long-Term Analysis Suggests Stronger Upside PotentialTrader Tardigrade has presented a comparative analysis using the 3-day timeframe and longer-term trend data. His observations outline a broader technical structure, identifying repeating rallies from an ascending trendline dating back to late 2023.Source: Trader TardigradeAs per Tardigrades View, three key support bounces produced gains of 200%, 400%, and now a projected 600%. Each surge began near the trendline and followed higher lows, maintaining structural consistency. He marked initial rallies from $0.04 to $0.11795, then from $0.06 to $0.38452.The latest bounce near $0.115 now projects a move toward $0.80055. Tardigrade emphasized the trendline’s reliability, citing each bounce’s timing and magnitude. His projection follows a steep parabolic arc without using indicators like RSI or volume. No macroeconomic data or fundamental analysis was included, with all findings based purely on price history and technical structures.The post Dogecoin Forms Bullish Base Near $0.17394 With $0.80055 Target in Technical Sight appears on Crypto Front News. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.
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