Dogecoin Eyes Bounce from Key Trendline: $0.30 in Sight?

According to a recent analysis by @ali_charts, a pullback to $0.14 could present a compelling accumulation opportunity prior to a potential price surge.

The weekly chart displays a clean technical structure, with DOGE currently trading near $0.17, slightly above the 0.5 Fibonacci retracement level.

Sustained support at this level suggests a potential rebound towards the 0.786 Fibonacci level at $0.30, a price point also coinciding with prior resistance.

The trendline, originating from DOGE's late-2023 breakout, has consistently provided support during previous price corrections. A bounce from this trendline, coupled with improving market sentiment for meme and altcoins, could signal the beginning of an upward price movement.

Conversely, failure to maintain support above this trendline could negate the bullish setup and potentially lead to further price declines towards the $0.13–$0.12 range.

The post Dogecoin Eyes Bounce from Key Trendline: $0.30 in Sight? appeared first on Coindoo.