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DOGE Can dogcoin reach US$0.177? Analysts reveal that key prices may trigger a rebound
Dogecoin must regain the key price of $0.0813-more than 30 billion DOGE units in the region had previously changed hands-before $0.177 could become a stronger potential target level.
The structure of the monthly indicator is similar to that of August 2022, when the TD Sequential indicator issued a buy signal, and then Dogecoin ushered in a strong 145% rise.
In the past week, whales have increased their holdings of more than 430 million DOGE units, and there has been a death crossing at the hourly level, making the short-term technical aspects still significantly mixed.
If buyers can successfully regain a resistance level that has repeatedly suppressed their gains, Dogecoin is expected to start a larger rebound.
According to cryptocurrency analyst Ali, US$0.0813 is a key obstacle that DOGE must overcome, and US$0.177 may become a potential target after that.
Dogecoin is currently trading around US$0.069, which means the meme is still below the level needed to enhance analysts 'bullish outlook. More than 30 billion DOGE units had previously changed hands near US$0.0813, making the area an important concentration area for existing holders.
In addition, DOGE encountered a drop in resistance in this area on June 23 and subsequently entered the current sideways consolidation structure. Since June 25, Dogecoin has remained between approximately US$0.068 and US$0.08, putting US$0.0813 just above its established trading range.
If we continue to close above this resistance level, it may mean that buyers have increased control and open up space for challenging higher resistance levels. Ali pointed out that if DOGE successfully converts the $0.0813 price area into support, the next major URPD resistance level will be $0.177.
Technical aspects add support for Dogecoin breakthrough
Several technical signals highlighted by Ali provide additional support for the possibility of a broader reversal of Dogecoin. The Tom DeMark Sequential indicator sends a buy signal on DOGE's monthly chart, indicating a possible shift in market direction.
In addition, dog coins form an inverted hammer line, while an emerging cross star form adds another element to the moonline technical combination. Ali compared this structure to August 2022, when DOGE also appeared with a down-hammer line at the same time as the TD Sequential buy signal.
In the previous pattern, a cross star also appeared, and then Dogecoin finally recorded a monthly increase of 145%. However, historical patterns do not guarantee similar results, so the key to the current bullish outlook lies in whether an effective breakthrough of US$0.0813 can be confirmed.
At the same time, whale activity strengthens another part of analysts 'argument with Dogecoin still within a set range. In the past week, large holders have increased their holdings of more than 430 million DOGE units, indicating that major market participants are increasing their positions.
However, the short-term situation remains mixed, as Dogecoin has recently seen a death cross on its hourly price chart. Therefore, US$0.0813 remains the core price that determines whether DOGE can break through the range and strengthen the outlook for the US$0.177 target. Continued breakthroughs will support Ali's bullish outlook, while another blockage may keep Dogecoin trapped within the existing trading range.
