Dogecoin Shows Bullish Signs Despite 15.15% Weekly Decline

Dogecoin is currently navigating a pivotal phase, with technical indicators suggesting a potential upward trajectory despite recent price declines. The cryptocurrency is trading near crucial support levels, showing signs of waning selling pressure. This technical setup indicates that Dogecoin may be poised for a price movement, with buyers closely monitoring for trend confirmation.

Dogecoin's price action has returned to a previous swing low around the $0.186 to $0.188 range, according to technical analysis shared by market observers. CryptosRus highlighted that DOGE has surpassed the third stage in a parabolic curve pattern, which historically precedes sharp price increases. The analyst expects a bullish reversal if Dogecoin grabs liquidity below $0.187 before confirming upward momentum.

Despite a 2.95% decline in the past day and a 15.15% drop over the last week, technical analysts view the current levels as potentially offering strong support for buyers. Trader Tardigrade identified a potential bullish divergence forming on DOGE charts, which could signal weakened selling momentum. The analysis shows Dogecoin returning to previous swing lows while the Relative Strength Index displays a higher low formation. This divergence typically indicates that selling pressure is diminishing even as prices test support levels.

The RSI behavior suggests buyers may soon step in to defend current price levels. Technical analysts view bullish divergence as an early warning sign of potential trend reversals. If confirmed by rising prices and improving momentum indicators, this pattern could mark the beginning of an upward move for the DOGE price.

Market observers are setting ambitious targets for Dogecoin despite the current consolidation phases. CryptosRus suggests DOGE above $1.00 could be achievable if bullish momentum confirms. These projections align with some 2025 forecasts that predict price appreciation for the popular memecoin. The parabolic curve analysis references historical patterns where Dogecoin experienced dramatic price increases. Previous cycles have shown DOGE capable of substantial gains during favorable market conditions.

The support level defense and momentum divergence create a favorable setup for Dogecoin bulls. Chart patterns suggest that despite recent weakness, underlying demand remains present at key price levels. Technical analysis indicates that a successful bounce from current support could trigger renewed buying interest. Market participants are closely watching for confirmation signals that would validate the bullish thesis. A sustained move above recent highs, combined with improving technical indicators, could attract additional interest.