Dogecoin (DOGE) Might Continue to Move Upward toward Higher Levels, Bolstered by Bullish Indicators

Dogecoin, the largest dog-themed meme coin has gained an upside trajectory, attracting significant interest and attention from investors.

Meme coin enthusiasts and investors have been closely observing Dogecoin (CRYPTO: DOGE) price movements lately, as the largest dog-themed coin has shown signs of recovery in the present bull cycle. Despite not reaching its previous all-time high or setting a new peak, several crypto analysts believe that DOGE is among the top-performing crypto assets in the bull run.

After a period of consolidation, Dogecoin price has managed to regain its upward momentum, surging above the pivotal $0.35 price level. This move has attracted attention, especially given DOGE's resilience during the recent market flush.

In a recent analysis, Daan Crypto Trades, a market expert and trader, highlighted DOGE's strength compared to other major coins. According to Daan, while BTC and ETH produced lower lows during the market flush, Dogecoin managed to set a "nice higher low" and traded back within its local range.

"Most coins held up stronger on this 2nd market flush compared to last time. DOGE did produce a nice higher low and is trading back within its local range. Others like BTC and ETH produced lower lows during this market flush. Expecting DOGE $0.4 soon before another go at the cycle highs."

As evident from the technical analysis platform's chart, Dogecoin price is seen trading within an ascending channel, forming a double-bottom pattern and showing signs of a bullish breakout. With rising momentum for an additional upward trend, the price action is emerging from the descending channel pattern.

DOGE price is showing signs of a possible bullish reversal with the double bottom formation. Breaking out from the declining channel, increasing momentum is setting the price up for another big rally up to key resistance levels.

Once the anticipated major rally begins, the platform has identified the next potential targets for DOGE at $0.56261 and $0.63998 levels. Looking at the chart, Rose Premium Signals suggests that the upswing might push the meme coin further to $0.70717, narrowing the gap from its all-time high of $0.73.