Dogecoin’s Critical Moment: Will it Soar or Fall? This is Dogecoin’s March 2025 Technical Analysis

Jakarta, Pintu News – Dogecoin DOGE->Current DOGE PriceRp 0Market Cap-Trading Volume-Circulating Supply- has recently shown signals that could determine the direction of its price movement going forward. After testing several critical technical levels, the cryptocurrency closed last week on a bullish note. Weekly analysis on Binance (DOGE/USDT) shows that DOGE is currently trading above the 0.786 Fibonacci retracement level of $0.167, taken from its all-time low of $0.0805 to its peak of $0.4844.

Dogecoin Technical Analysis

Dogecoin (DOGE) recently tested the downtrend line that has been in place since it reached its highest price in May 2021. After successfully breaking that trendline in November 2024, DOGE is again testing it as support. Last week’s candle formation showed a Hammer pattern, which is characterized by a small candle body at the top and a much longer lower shadow.

Although the candle also featured a small upper wick, the dominance of the lower shadow suggests that buyers have absorbed the aggressive selling pressure below the trendline and pushed the price back above the 0.786 Fibonacci level. This is a strong bullish signal. However, a close this week above $0.167 is crucial to confirm the momentum.

Also Read: CryptoQuant CEO Ki Young Ju’s Warning Against Crypto Market End of March 2025

Momentum Indicators and Price Support

Despite the bullish signals, the momentum indicators are still showing neutral to bearish signs. The weekly Relative Strength Index (RSI) closed around 39, indicating still low buying strength and highlighting that the DOGE is still operating below the neutral 50 mark.

The Exponential Moving Average (EMA) provides layered resistance above the current price. The 100-week EMA is at $0.17284, slightly above DOGE’s current price range, while the 50-week EMA is at $0.21427. The 20-week EMA, which was a frequent resistance during the previous rally, is now at $0.24805. Support is reinforced by the 200-week EMA around $0.13621, which is likely to be the last line of defense if DOGE falls below the multi-year trend line.

On-Chain Data and Market Analysis

On-chain data provides additional context for recent price action. Analytical firm Santiment reported that Dogecoin (DOGE), like most meme coins, was heavily impacted during the two-month market decline. However, Santiment highlighted a bullish divergence on the network side.

The firm suggests paying attention to the rate of wallets holding at least 1 million DOGE, which has recovered during the price drop. Active addresses also reached a four-month peak. Adding to this sentiment, crypto analyst Daan Crypto Trades commented that DOGE, similar to Pepe Coin PEPE->Current PEPE PriceRp 0Market Cap-Trading Volume-Circulating Supply-, has re-taken the Election level after sweeping it. This signals a potential short-term recovery and the level could offer a clear invalidation point afterward.

Conclusion

With all these indicators and analysis, the future of Dogecoin (DOGE) seems to depend on how it can maintain momentum above this critical level. Whether this will be a turning point for a price increase or just preparation for a further decline, only time will tell.

Also Read: When will Chainlink (LINK) reach $24? Check out the prediction! Here’s LINK’s Technical Analysis!

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Trading crypto carries high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• NewsBTC. Dogecoin at Make or Break Point, Multi-Year Trendline Test. Accessed on March 20, 2025
• Featured Image: Generated by AI