Dogecoin (DOGE) Price Breaks Out Of Bearish Channel, Eyes Major Recovery

The Dogecoin price has dropped 2% in the last 24 hours to trade at $0.1966 as of 3:30 a.m. EST

Crypto traders are closely watching Dogecoin (CRYPTO: DOGE) for signs of a trend reversal after a recent slump.

What Is The SuperTrend Indicator Suggesting

The SuperTrend indicator suggests that Dogecoin could enter a bullish phase if it manages to break above the $0.21 resistance level, crypto analyst Ali Martinez says.

“The SuperTrend indicator suggests that #Dogecoin $DOGE could enter a bullish phase upon breaking the $0.21 resistance level.”

Credit: Ali on X

Breaking above this level could spark upward momentum for the popular meme coin, according to the indicator.

Traders are keeping a close eye on DOGE’s price action for any signs of a trend reversal.

Recently, the Dogecoin price dropped 2% in the last 24 hours to trade at $0.1966 by 3:30 a.m. EST as an 18% jump in trading volume brought in $1.94 billion.

After falling below the $0.14 – $0.16 support zone, Dogecoin struggled to regain traction. However, recent technical analysis suggests that the meme coin could be preparing for a rebound.

As the price dipped below the lower boundary of the bearish channel, it encountered a crucial support range at $0.14 – $0.16. This zone also coincides with the neckline of the double-top pattern, which had signaled the previous bullish trend.

A break back above the bearish channel at around $0.19 – $0.20 could be crucial for setting the stage for further recovery toward the 50-ema (exponential moving average) at $0.22 – $0.25.

However, a failure to break above the channel and sustain gains could lead to another leg down toward the $0.14 – $0.16 support.

Dogecoin Price Analysis: Can DOGE Finally Break Out Of Bearish Channel?

After months of decline, Dogecoin (DOGE) shows signs of a potential trend reversal as it breaks out of a bearish channel and forms strong support.

Dogecoin has been struggling to recover after the double-top pattern signaled the previous bullish trend. Following the breakdown of the neckline, the price tumbled and moved steadily in a bearish channel, showcasing a clear bearish bias.

As the asset dipped below the crucial support zone at $0.14 – $0.16, it encountered strong support, setting the stage for a potential rebound.

A double-bottom pattern, often associated with a major trend reversal, has formed at this level, suggesting that sellers are losing steam and buyers might return to push for higher prices.

Credit: Tradingview

The Relative Strength Index (RSI) has also climbed to 53.17, indicating that buying interest is increasing after the RSI recovered from oversold conditions at 42.06.

As long as the price stays above the $0.19 – $0.20 zone and the breakout gains traction, the next major resistance levels to watch are at $0.22 – $0.25. Afterward, a move toward $0.30 – $0.35 in the coming weeks could be realized.

Nevertheless, a failure to sustain above $0.19 could see Dogecoin retest lower support levels, with a move below $0.16 possibly invalidating the bullish setup.

With the breakout from the bearish channel and improving technical indicators, Dogecoin appears poised for a potential recovery in the coming days.

MIND Of Pepe Presale Heads For $8 Million—Next Crypto To Explode?

As Dogecoin picks up momentum to continue its upward climb, investors are turning their attention to MIND of Pepe (MIND), a new AI-powered meme coin hybrid that has already raised over $7.6 million in its presale.

MIND of Pepe capitalizes on the growing popularity of frog-themed tokens. To stand out, its team has branded it as the first AI-generation version of the iconic Pepe the Frog.

At the heart of MIND’s ecosystem is an advanced AI agent that analyzes social media activity, especially on X, using a hive-mind approach to identify emerging trends before they go mainstream.

When the AI detects potential opportunities, it shares them with MIND token holders through exclusive, token-gated groups, giving them a competitive edge in the market.

Beyond tracking trends, the AI also shapes market narratives by engaging with influencers and investors to benefit MIND. It can even create and promote its own tokens, offering MIND investors early access before public launches, positioning them ahead of potential price surges.

Crypto analyst and YouTuber Borch Crypto, who has over 87.5k subscribers, says that MIND is one of the best cryptos to buy and that he sees potential for a 100X gain in the token after launch.

Investors are also flocking to the project, drawn by its