Dogecoin Tests IDR2,771 Price Support: Is Further Rise Possible in April?

Jakarta, Pintu News – Dogecoin DOGE->Current DOGE PriceRp 0Market Cap-Trading Volume-Circulating Supply- is showing potential for significant price movement as optimism from market participants increases. The strengthening ratio of long to short positions is an early signal of a potential change in price direction, while technical support levels are a major point of concern for analysts and traders.

Dogecoin Long/Short Ratio Indicates Market Optimism

In the past 24 hours, Dogecoin’s Long/Short position ratio increased from 0.85 to 1.20 – the highest level over the past week. This ratio indicates that more traders are currently betting on a rise in the price of DOGE than a fall. This figure is considered important because historically, DOGE tends to respond positively to this kind of sentiment change.

The increase in this ratio signals a return of speculative interest in the crypto market, particularly in memecoin-type assets like Dogecoin. This shift also reflects the expectation that the price will soon experience significant movement, especially if supported by increased trading volumes.

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Technical Structure Indicates Chance of Uptrend Continuation

Technically, Dogecoin is currently moving in a long-term upward channel from a weekly perspective. At the time of writing, the price of DOGE is slightly above an important support area of $0.17 or about Rp2,771 (with a conversion of 1 USD = Rp16,300). This channel is considered vital as it provides a broader sense of direction for medium-term investors.

If prices hold and volume strengthens, DOGE could potentially test the next resistance zone between $0.22 to $0.23 (approx. IDR3,586 to IDR3,749), which corresponds to the Fibonacci extension level. If DOGE manages to break this level, further upside to $0.30 (IDR4,890) is likely.

Momentum Indicator Shows Consolidation Before Movement

In terms of momentum, Dogecoin’s Relative Strength Index (RSI) indicator is currently hovering around 50, reflecting neutral market conditions. Meanwhile, DOGE’s price is flat around $0.175 (IDR2,853) with steady volume, often a sign of volatility expansion.

Other technical indicators such as the narrowing Bollinger Bands and the flattening Moving Average Convergence Divergence (MACD) reinforce the possibility that DOGE is “gathering steam” for a big move in the near future. Under these conditions, market participants usually wait for confirmation of direction, either up or down.

Possible Next Scenarios for DOGE

With an increasing ratio of long positions and technical indicators signaling consolidation, Dogecoin could potentially test higher resistance levels in the near term. However, if the price is unable to maintain support at $0.17 (€2,771), DOGE risks dropping back to $0.15 (€2,445).

Uncertainty still looms as Dogecoin falls into the category of high volatility cryptocurrencies. Therefore, investors are advised to keep a close eye on market sentiment and trading volume as supporting indicators in making decisions.

Conclusion

Dogecoin’s price movement is currently at a critical juncture with various technical signals reinforcing each other. Although upside opportunities are open, caution is still required given the volatile nature of the crypto market, especially for assets like DOGE.

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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:

• AMBCrypto. Dogecoin tests $0.17 support – Watch out for these levels next. Accessed March 26, 2025.
• Featured Image: Bitcoin Sistemi