Is Dogecoin (DOGE) Ready to Surge? Fibonacci Analysis and Trend Support Say Yes

Jakarta, Pintu News – Dogecoin (DOGE) seems to be preparing to surge again. After stabilizing around $0.17 on the weekly chart, Dogecoin (DOGE) recently bounced off crucial Fibonacci support and trendlines, suggesting renewed bullish potential. With solid 200-week moving average support and prices comfortably above the up channel, technical analysis suggests that the market configuration is favorable.

Technical Analysis Shows Bullish Signals

Dogecoin (DOGE) has shown significant resilience near the $0.17 level, signaling strong support. By maintaining a position above the 200-week moving average, it gives an indication that Dogecoin (DOGE) is in a good position to weather market pressure. If the recent decline towards the 200 moving average on the M15 chart is considered a low-risk entry point, it could be the start of a rise towards the $0.16490 resistance, and even higher.

At the same time, the current technical setup shows that Dogecoin (DOGE) is above the up channel, which adds confidence in further upside potential. Crypto market analysts suggest that it is a good time to pay attention to Dogecoin (DOGE) as technical indicators favor a higher price movement.

Also Read: Ethereum Transformation Secrets – How Big of an Impact on Cryptocurrency Prices?

Resistance, but Technical Analysis Remains Optimistic

Although Dogecoin (DOGE) faced rejection at the yellow horizontal resistance line around $0.16490, further analysis shows that this is not the end of its upside potential. Price consolidation below this key level signals uncertainty among traders, but it could also be interpreted as accumulation before the next price surge.

Analyst Thomas Anderson has shared this view in his analysis, highlighting the current market dynamics. Considering that Dogecoin (DOGE) is currently trading at $0.17043, there is a chance that buying pressure will increase, pushing the price beyond the current resistance. This would pave the way for Dogecoin (DOGE) to reach higher price targets, in accordance with the positive market sentiment.

Dogecoin (DOGE) Weekly Chart Echoes Bullish Elliott Theory

Taking a closer look at the weekly chart of Dogecoin (DOGE), crypto analyst Andrew has observed a prominent long-term wave structure. Over the past three years, Dogecoin (DOGE) has completed a five-wave upward impulse, which was followed by a typical ABC correction, according to the Elliott Wave theory. This suggests a healthy market cycle and potential for further recovery.

Andrew emphasized that an understanding of this wave structure can be invaluable for investors looking to capitalize on Dogecoin (DOGE) price fluctuations. By utilizing this theory, investors can make more informed decisions about when to enter and exit their positions in Dogecoin (DOGE).

Conclusion

With various technical indications in its favor, Dogecoin (DOGE) seems poised for its next bullish phase. Investors and traders are advised to monitor these indicators and prepare their strategies according to the evolving market dynamics. Dogecoin (DOGE) offers exciting opportunities in this dynamic crypto ecosystem.

Also Read: Here are the Shocking Facts Behind Altcoins: Can it really be more profitable than Bitcoin?

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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. Crypto trading activities are subject to 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 Prepping for Takeoff. Accessed on July 10, 2025