Dogecoin Confirms Trend Reversal with Breakout and Retest
Dogecoin is entering a bullish phase after months of decline. Technical analysis indicates a trend reversal from bearish to bullish momentum.
Trend Reversal Confirmed
- Analyst Trader Tardigrade reported a confirmed trend reversal for Dogecoin.
- DOGE's daily chart has shifted from a downtrend to an uptrend.
- The price broke above a descending trendline on April 22, closing above $0.165.
- A successful retest of the trendline as support followed shortly after.
- This breakout and retest pattern confirms the trend reversal.
Price Targets
- Trader Tardigrade estimates a potential rise to $0.25 by early May.
- A move to $0.25 marks a 51% gain from the breakout level of $0.165.
- This would be Dogecoin's highest price since late February.
- Long-term analysis suggests a possible target of $2.8 based on historical patterns.
Current trading price for Dogecoin is $0.18.
