BCGAME - Free 5BTC Daily Bonus!- Dogecoin has been on an uptrend since 2023
- Technical breakout boosts DOGE price
- Zone between $0,165 and $0,200 attracts buyers
The price of Dogecoin (DOGE) has been attracting attention as it remains above an uptrend line that has been running since early 2023. After recording a weekly low of $0,1643, the cryptocurrency has reacted strongly, signaling that buyers have returned to act with intensity in the support zone.
Experts point to the range between $0,165 and $0,200 as a strategic area for accumulation. The confluence between the trendline and the 0,5 Fibonacci retracement level reinforced buying pressure at this point, generating a recovery that raised the price of DOGE to close to $0,20 — an increase of 12% compared to the low of the week.
This trendline has supported the #Dogeco $ DOGE since October 2024. A dip to $0.14 could present a buying opportunity ahead of a potential rebound to $0.30.
Join me in this trade by signing up to @coinexcom using my referral link https://t.co/73n8mW9Y5p pic.twitter.com/lD9kr4BJOL
— Ali (@ali_charts) May 7, 2025
According to analyst Ali Martinez, Dogecoin has been following this trend since October 2024. “A drop to $0,14 could offer a buying opportunity if the trendline continues to hold,” the expert highlighted.
On the 4-hour chart, the asset confirmed the breakout of a descending wedge after a candle closed above the pattern’s upper line. This propelled the price to $0,1810, with a subsequent advance to the 78,6% Fibonacci zone, near $0,1860. Should this level be surpassed, analysts project a new target between $0,2042 and $0,2061.
The bullish sentiment was reinforced by data from CoinGlass, which showed a 7,19% increase in DOGE futures open interest, totaling $1,81 billion. On Binance, 67,84% of traders hold long positions, while the funding rate rose to 0,0051%, indicating confidence in the bullish move.
