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Dogecoin (DOGE) Price Holds $0.23 Support, Eyes Breakout to $0.38

• Dogecoin remains steady above the $0.23 support level, while the $0.20 zone provides additional safety for buyers.
• The TD Sequential indicator flashes a bullish reversal, suggesting DOGE could be preparing for a strong comeback soon.
• Key resistance sits near $0.31, and a successful breakout could open the path toward the $0.35–$0.38 target range.

Dogecoin draws renewed attention as analysts identify signals of a possible bounce. Technical indicators and strong support levels continue to sustain optimism amidst prevailing softness. Market sentiment shows steady accumulation, signaling rising optimism prior to the coin’s next directional movement.

At the time of writing, DOGE is trading at $0.2403 with a 24-hour trading volume of $9.39 billion and a market capitalization of $36.20 billion. The DOGE has seen its price dip by -3.37% in the past day, yet optimism remains as technical signals and key support levels fuel expectations of a possible rebound.

TD Indicator Suggests Dogecoin Bullish Reversal

Prominent market analyst Ali Martinez noted that a rebound could be brewing for Dogecoin, following the Tom DeMark (TD) line indicating a buy. Martinez explains that this bullish technical formation often appears near points of potential reversals, which could set the bullish configuration of DOGE into motion in the short term.

Also Read | Dogecoin (DOGE) Whales Accumulated $148 Million as Analysts Predict 520% Breakout

Dogecoin Poised for Possible Upside Reversal Soon

Adding to this view, another well-known analyst, Joe Swanson, highlighted how Dogecoin holds strong by the $0.23 support level, and another level of protection lies at $0.20. He added that as long as these thresholds remain intact, the token may get the support it needs for a go at gaining.

Technically, the analysts identify the $0.31 barrier level as the top target for bears. The breach of the level successfully could offer an opening window towards $0.35 to $0.38, translating into a huge pullback from the current prices.

Taking a closer look at the broader landscape, Dogecoin has been forming higher lows since April, which many times is taken as a sign of consistent accumulation. This steady rise, coupled with climbing sentiment and a positive macro environment, also led many to feel positive that the latter may be gearing up for the next big move.

For now, all attention is geared towards whether Dogecoin finds support and gains enough strength to test the higher resistance levels in the coming days.

Also Read | Dogecoin Charts Signal Possible 20X Rally as Price Eyes Key Breakout

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