- DOGE eyes a breakout if the monthly close surpasses $0.20 resistance.
- A reclaim of 100 EMA may fuel the DOGE rally toward $0.80.
- Stable $3.41B volume signals strong market support for DOGE.
Crypto analyst Ali_charts has projected that Dogecoin (DOGE) could be on the verge of a significant rally if it secures a monthly close above the $0.20 price. Based on his technical analysis chart, Ali suggests such a breakout could open the door for DOGE to revisit its all-time high of $0.74, set in May 2021.
Dogecoin Battles Key Resistance, Eyes Return to All-Time Highs
Ali’s chart shows DOGE has been trading within a long-term ascending channel since early 2017. It spiked above the channel’s upper boundary during the 2021 bull run, but the move proved unsustainable, and the asset retraced to find support near $0.065, just above the 0.618 level.
Since then, the token has made several attempts to recover, but the 0.25 level continues as resistance, and the channel’s base has been a critical support zone. At press time, DOGE is currently priced around $0.18 and is heading towards the psychological and technical barrier of $0.20.
According to Ali, a monthly close above this level would not only affirm bullish necessity but would additionally clear the street for a rally to past highs and reiterate the channel as a driver in DOGE’s long-term destiny.
Dogecoin Reclaims 100 EMA, Bullish Signal Flashes
From a similar point of view, crypto expert Trader Tardigrade predicts that Dogecoin (DOGE) will undergo a massive rally after reclaiming the 100-week Exponential Moving Average (EMA). The analyst explained that DOGE, having closed its latest weekly candle above the key 100 EMA threshold, indicates a bullish reversal to come, creating an opportunity for a large price increase.
Moreover, a reclaim of the 100 EMA has historically preceded major rallies for Dogecoin. By early 2024, the first breakdown and reclaim brought DOGE to a height of about $0.22. This pattern continued later that year when another reclaim pushed the token upwards to reach a high of $0.48.
However, with a fresh reclaim confirmed, Trader Tardigrade suggests that Dogecoin could be gearing up for a rally to the $0.80 price point, a level that will set new highs last seen in the 2021 bull market. The analyst further points out that the recognized technical pattern, plus the power of the 100 EMA reclaim, could catalyze an upside explosion.
Dogecoin Volume Stability Adds Weight to Bullish Technical Signals
The technical outlook seems to concur with on-chain data, as Dogecoin’s trading volume has been pretty steady, even with recent price fluctuations. According to CoinGlass data, DOGE is $0.18 at press time with a 24-hour trading volume of $3.41 billion. This steady trading activity in cryptocurrency suggests that consistent market participation could provide a great foundation for any bullish momentum.
From a historical point of interest, the token’s trading volume spiked well above $60 billion in mid-November 2024 but has since normalized, remaining within a relatively narrow range of around $2 billion and $9 billion daily. Furthermore, no substantial dip in volume was seen during these price consolidations, indicating that investors remained interested in the market.
