Dogecoin Surges 1.46% Amid Bullish Trendline Support

Dogecoin has shown resilience in recent trading sessions, maintaining its bullish momentum as it trades above a key trendline support level. The cryptocurrency has been closely watched by analysts, who point to $0.17 as a crucial level that, if reclaimed, could unlock a rally toward $0.21. This optimism is bolstered by the TD Sequential buy signal, which has appeared on the 3-day chart, suggesting a potential trend reversal after weeks of price consolidation near $0.162.

Despite facing resistance at $0.167, Dogecoin's bounce from $0.14270 indicates underlying strength. This rebound has kept upward targets, such as $0.23137, in focus. Currently, Dogecoin is trading at $0.16227, reflecting a 1.46% daily increase and growing interest at current levels. The TD Sequential indicator's buy signal adds to the technical setup, signaling a possible trend reversal after weeks of price consolidation near $0.162.

Dogecoin has adhered to an upward trendline since December 2024, starting at $0.06. Throughout tumultuous times, price bounces have been steadily supported by this rising tendency. Before going into a corrective phase, Dogecoin’s price behavior in late 2024 achieved highs of $0.40. Deeper losses were avoided, though, as buyers moved back close to the trendline.

Fibonacci retracement levels offer further insight into the price structure. The 0.5 retracement sits at $0.16537, acting as short-term resistance. Meanwhile, the 0.382 level rests at $0.12828, marking a key historical support zone. Higher Fibonacci targets include $0.23137 and $0.30602. If momentum builds, Dogecoin could test the 1.0 Fibonacci extension at $0.48600.

Dogecoin climbed from a local low of $0.14270 to $0.16199, holding steady near $0.16307. Buyers must reclaim this level to push toward $0.172. However, Dogecoin recently faced heavy resistance around $0.167, creating mid-range consolidation pressure. The downtrend from late May saw the price fall from $0.23000 to $0.12000. A descending channel shaped this decline, with failed breakout attempts at dynamic resistance. Consequently, the $0.12339 level formed a solid base as selling exhaustion set in.

Volume patterns also reveal increased activity during rebounds and breakdowns. This suggests that both opportunistic buyers and sellers are still interested. Dogecoin may be getting ready for a larger trend reversal, as evidenced by the most recent rally, which coincides with important technical zones. The consistent volume activity suggests that Dogecoin may be poised for a rebound after recent consolidation phases, fueling hopes for a recovery in the near future.