Dogecoin Confirms a New Macro Uptrend: Will DOGE Price Make It to $0.3 This Month?

Dogecoin Confirms a New Macro Uptrend: Will DOGE Price Make It to $0.3 This Month?

Following a significant recovery in Bitcoin prices, popular altcoins traded in various directions. Meanwhile, the beloved memecoin, Dogecoin, maintained a strong ascending trend, carrying expectations of a positive week ahead.

After a brief upswing in the month's early days, DOGE price is consolidating its gains. This consolidation indicates preparation for the next price action, targeting $0.2 in the coming days.

Since the beginning of March, the price has been significantly high, forming a head-and-shoulder pattern. However, the price bounced off the neckline, nullifying bearish prospects. The current trade setup suggests a strong move towards the resistance at $0.18, with $0.22 as the target to be surpassed soon.

The long-term or monthly chart of DOGE price presents a bullish picture. Despite interim fluctuations, the token has maintained a steep upswing within a parabolic curve. The token has formed a similar pattern previously, where a breakout after reaching the neckline led to higher targets. Market participants can expect a continued upswing within a consolidated pattern until the price reaches the neckline at $0.28.

Furthermore, the RSI displayed a bearish divergence in March but has since flipped back to a bullish range. The Dogecoin price, which has soared by over 3% in the past 24 hours and nearly 18% in the past week, is expected to surge by 20% to 25% in the next few days, reaching $0.22.