Dogecoin started a fresh increase above the $0.1680 zone against the US Dollar. DOGE is now consolidating and might aim for a move above $0.1720.

• DOGE price started a fresh increase above the $0.1650 and $0.1680 levels.
• The price is trading above the $0.1680 level and the 100-hourly simple moving average.
• There is a bullish trend line forming with support at $0.1680 on the hourly chart of the DOGE/USD pair (data source from Kraken).
• The price could start a fresh rally if it clears the $0.1720 and $0.1750 resistance levels.

CoinCodex’s machine learning algorithm has predicted that the Dogecoin price could soon reclaim the psychological $0.2 level. This provides a bullish outlook for the foremost meme coin, which is down over 13% in the last month.  Dogecoin Price To Record Double-Digit Gains And Rally To $0.2 The machine language algorithm predicted that the Dogecoin price would rally to $0.2 in the next thirty days, representing a gain of over 17% from its current level. Based on this prediction, DOGE is expected to reach this psychological price level in the first week of August. Next month could be a bullish month for the meme coin as the algorithm predicts that Dogecoin could rally to as high as $0.21.  Meanwhile, CoinCodex’s prediction for the Dogecoin price this month is mixed as its machine algorithm predicts the meme coin could drop to as low as $0.164 this month. This price crash is expected to happen in the first half of July. Once that happens, the algorithm predicts that DOGE could then recover and rally to $0.2 by month’s end.  A monthly close above the $0.2 level could provide some optimism, given how the Dogecoin price has performed over the last month. The meme coin also recently dropped to a local low of around $0.157, which put it at risk of retesting its bull market support band at $0.14. Crypto analyst Kevin Capital recently highlighted the $0.12 and $0.142 range as the key level to watch. He warned that the Dogecoin price was at risk of dropping into its bear market structure, especially if its Relative Strength Index (RSI) dropped below 38. However, he suggested that if DOGE holds these levels, it could outperform later in the year once the Fed begins to cut rates.  DOGE’s Move Depends On BTC For Now In an X post, Kevin Capital suggested that a major bounce from the Dogecoin price would depend on Bitcoin. This came as he noted that DOGE was looking to record another major bounce, just like the other times when it touched the 40 level on the weekly RSI. The analyst declared that a similar outcome to the previous touches could occur again if BTC can continue to rise.  Indeed, the Dogecoin price had begun to rebound following the Bitcoin price’s latest climb to as high as $110,000. However, Bitcoin is again on the downtrend, which puts the foremost meme coin at risk of dropping to new lows. Kevin Capital remarked that a failure of this weekly RSI level at 40 would be the line in the sand between longer-term bearish price action or a continued bull run. Failure to hold between $0.144 and $0.127 could also determine what’s next.  At the time of writing, the Dogecoin price is trading at around $0.17, down over 2% in the last 24 hours, according to data from CoinMarketCap.

The Dogecoin price may be setting up for a significant rally as a technical analyst identifies a bullish breakout above the 50-day trendline. After months of compressed price action, the meme coin now appears poised to conclude its downtrend, igniting fresh optimism within the crypto community.  Dogecoin Price Set For Game-Changing Rally Trader Tardigrade, a crypto market analyst, announced in an X (formerly Twitter) post on July 1 that the Dogecoin price has just broken above a critical 50-day descending trendline on its daily chart. With this new development, the analyst anticipates the potential start of a powerful upward price movement soon.  Notably, the trendline breakout marks a significant shift in momentum for Dogecoin, which had been locked in a consistent downtrend over several weeks. The leading meme coin is currently trading at $0.17, having declined by almost 10% over the past month, according to CoinMarketCap.  With the potential end of this market downturn in sight, Trader Tardigrade suggests that DOGE’s microstructure is now beginning to show early signs of a bullish reversal pattern. In his price chart, the analyst notes that Dogecoin established a higher low, followed by a higher high after its breakout above the long-standing trendline.  More recently, a second higher low has formed, reinforcing the possibility that a new uptrend is underway. This structure, characterized by successively higher highs and lows, is often seen as the earliest confirmation that buyers could be regaining control of the market.  The breakout is also especially significant because it follows an extended period of lower lows and lower highs, with the 50-day trendline acting as a strong resistance barrier throughout. With that resistance now breached and early signs of a bullish market structure developing, Trader Tardigrade is increasingly optimistic about Dogecoin’s near-term prospects. If the current trend persists, it could signal the start of a sustained rally for the meme coin.  Analyst Says Dogecoin Below $0.2 Is Free In a separate analysis, market expert Kaleo disclosed that Dogecoin’s current price below $0.20 presents a strong accumulation opportunity, implying that the meme coin is significantly undervalued when compared to its potential upside. Backing his view with a chart, the analyst projected that the Dogecoin price may be on the verge of a major breakout, with possible upside targets indicating a surge toward $1.5 and possibly beyond $ 3.50.  Kaleo’s chart analysis highlights strong similarities between Dogecoin’s current market structure, following the April 2024 Bitcoin halving, and the 2020 breakout that preceded the meme coin’s historic bull run. In 2020, Dogecoin traded sideways within a Falling Wedge pattern for months before a breakout triggered a parabolic surge to fresh ATHs. The current price action exhibits a nearly identical setup, with the meme coin now emerging from a similar multi-year Falling Wedge, potentially setting the stage for another historic bull rally.

The broader crypto market has taken a hit. Major digital assets like Dogecoin are faced notable bearish movements with the dog-themed meme coin dropping to the $0.21 level. DOGE may be under renewed bearish pressure, but a crypto analyst points to an impending notable rally as bullish momentum gradually returns to the market, pushing prices back to $0.22. Breakout Sets the Stage For Dogecoin To $0.4 Dogecoin appears to have found renewed upward momentum due to the general market recovery following Bitcoin’s brief upswing today. With recent developments spotted on the DOGE 1-day chart, the meme coin is once again flashing signs of strength as it eyes a key breakout. Related Reading: Dogecoin Price Completes Daily Trend Break, Why $0.42-$0.43 Supply Zone Is Next An X (formerly Twitter) crypto expert and investor, Trader Tardigrade, has outlined a formation that might redefine DOGE’s short-term price trajectory. As Dogecoin hovers near critical support zones, the expert foresees a sharp breakout toward the $0.4 level. According to Trader Tardigrade, the meme coin is forming a leg in consolidation below the $0.25 resistance level after recent pullbacks. It is worth noting that this marks the second leg in consolidation in less than a week. Specifically, the first leg of consolidation occurred last Tuesday after it failed to break above the immediate resistance at $0.25. Trader Tardigrade believes that Dogecoin is likely to break through this level following a shakeout below $0.21 to remove weak hands. However, the expert noted that DOGE would hit the resistance zone several times before breaking through. When a breakout finally takes place, Dogecoin is expected to rally hard toward the $0.4 mark that was last seen in late January this year due to its previous explosive run. Looking at the chart, this level is another crucial resistance range for DOGE in its bullish journey.  The last time the meme coin reached this key barrier, it caused a major pullback in the following months before DOGE gained traction again in April. In the event that Dogecoin revisits and breaks past the $0.4 zone, it may lead to an extension of the rally as buying pressure grows. DOGE Makes A Hidden Bullish Divergence With technical indicators aligning and market sentiment turning cautiously bullish, DOGE might be gearing up for its next major uptrend. Trader Tardigrade also identified an RSI (Relative Strength Index) Hidden Bullish Divergence on the 1-day chart. Related Reading: Dogecoin Makes Meaningful Correction: Key Pullback Pattern Points To Looming Rally The emergence of a hidden bullish divergence on the DOGE RSI reflects growing momentum for a bounce even as prices continue to fluctuate. Presently, the expert highlighted that the meme coin is forming a higher low, while the RSI is forming a lower low. Ali Martinez, another seasoned crypto analyst, has underlined a critical resistance at $0.26 as the meme coin gears up for another upswing. According to the analyst, this level continues to be the most important resistance wall for DOGE. Breaking this level could mark the beginning of a bullish phase.

Dogecoin has held steady above $0.22 since May 20 and climbed back after a brief dip. It hit $0.25 on May 23, then eased into the weekend. In the last 24 hours, the token is up 4.1%. Over a week, it’s up 5%, even though it slipped midweek. The Triangle Pattern According to TradingView analyst Akbar Karimzsfeh, Dogecoin has been tracing a long, tightening triangle since its all-time high of $0.73536 on May 3, 2021. That peak was followed by a drop to $0.048 on June 13, 2022. Since then, every attempt to break lower—on June 5, August 14 and October 9 of 2023—has failed. The lines of the triangle are closing in. When they meet, a sharp move is likely. Key Resistance Levels Based on data, the upper trendline of the triangle also matches the top of a large “cup” pattern around $0.4916. There was an attempted breakout in December 2024, and prices almost hit that $0.4916 mark but got pushed back. After that, DOGE slid down to $0.13. It has since recovered some ground, but it still has to clear that $0.4916 hurdle before bulls can claim real control. Recent Price Moves Dogecoin hovered around $0.22 between May 20 and May 26. It peaked at $0.25 on May 23, only to slip afterward. Then the last 24-hour gain of 4.1% showed it can bounce from support. The 5% weekly rise points to steady buying, even with some pullbacks in the middle of the week. Traders are watching for a daily close above $0.50 as a sign that the long squeeze is over. On-Chain Metrics Rise On-chain data backs up the price action. New addresses have jumped by 102.40% in the past seven days. Active addresses climbed 111.32%. Zero balance addresses went up 155.45%. That suggests more people are sending small amounts of DOGE or testing the network. It doesn’t guarantee they’re holding long term, but it does flag higher interest and activity. If Dogecoin can break above the top trendline and hold above $0.49, some see a move toward $3.08. That target is based on adding the triangle’s height to the breakout point. It’s a big leap. Psychology and trading fees could slow that run. But the pattern says a strong move may be coming. Based on reports, caution is still wise. Wait for clear confirmation before betting on a moonshot. A slip below the lower trendline near $0.05 would turn the picture bearish. For now, Dogecoin sits in the balance, squeezed between two key trendlines. Traders and fans will be watching every close above $0.49 or fall below $0.05 to gauge the next big move. Featured image from Gemini Imagen, chart from TradingView