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Dogecoin Holds Strong Support Aiming Bullish Breakout Move Near $0.280

• Dogecoin is maintaining strong support levels, with technical patterns suggesting that a bullish rebound could soon take shape.
• A buy signal spotted on the 4-hour chart raises optimism that DOGE may recover from its current range and regain momentum.
• Analysts are watching closely to see if Dogecoin can hold above its support zone, which may trigger a breakout in the near term.

Dogecoin (DOGE) is drawing renewed attention in the crypto markets as there are signs of a possible rebound. Even after a correction recently, there are signs that momentum is set to return, with technicians signaling there is a short-term recovery phase on the horizon.

At the time of writing, Dogecoin is trading at $ 0.2657 with a 24-hour volume of $ 5.12 billion and a market cap of $ 40.19 billion. The price of DOGE decreased by -1.98% in the last 24 hours.

Dogecoin Chart Shows Signs of Reversal

Prominent crypto analyst Ali Martinez recently highlighted that Dogecoin registered a buy signal on the 4-hour chart with the assistance of the TD Sequential indicator, an indicator that is normally predictive of subsequent reversals. He personally thinks it increases the probability that DOGE might bounce back from its current range and recover lost ground.

Dogecoin Faces Key Test as Market Eyes Breakout

Meanwhile, another popular crypto analyst, BitGuru, pointed out that Dogecoin also rallied earlier against $0.307 before it was turned away, which led to today’s correction. With prices now settling around $0.266, the market is keeping an eye on the response of DOGE in the very near term.

Unless DOGE is able to remain north of the current support zone, the analysts expect it may go up all the way to the $0.280 level. Failure to maintain it as a base may reprice it back down into lower consolidation zones and deter the breakout.

As one of the most popular meme coins, DOGE is back in the limelight whenever signs of volatility arise. With early alerts from technical indicators and investors tracking major levels, future sessions may determine whether DOGE is about to begin its next bullish adventure.

Also Read | Dogecoin Eyes Potential Rally With Key Target Near $0.30 Resistance

Dogecoin Shows Mixed Signals in Market Trend

The Dogecoin RSI is up at 56.90, reflecting stable buying pressure, and the MA Ribbon defines key support points at $0.21671 and $0.17948. With price still above the 50-day MA at $0.24136, DOGE is still bullish so long as it is above these supports.

Looking at MACD, the blue line is at 0.01029 against the signal line at 0.00246, and the histogram shows weak green momentum at 0.00783. This is a signal of a probable bullish trend, but currently, the strength is capped.

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