Dogecoin Price Analysis: Will DOGE Reclaim $0.15 Before June End?

Dogecoin Price Analysis: Correction Trend Halts as Altcoin Market Rebounds

The recent correction trend in the crypto market paused on Tuesday as Bitcoin's price rebounded from the $60,000 support. This 2.3% jump sparked a relief rally in the altcoin market, particularly in volatile assets like Dogecoin (DOGE).

DOGE has surged 7.3% today, forming a reversal pattern at a critical multi-month support level.

Flag Pattern and Double Bottom Indicate Potential Surge

Since late March, Dogecoin has been consolidating within a flag pattern. The converging trendlines, acting as dynamic resistance and support, have confined the asset's value between $0.228 and $0.113, resulting in a 50% decline.

If the pattern holds, DOGE's current pullback may be temporary, allowing for the accumulation of bullish momentum for a larger rally.

As selling pressure eased, Dogecoin stabilized above the pattern's lower trendline at $0.113. A 4-hour chart analysis reveals a double bottom formation at this support level. A successful breakout above the $0.129 resistance could lead to a 10% increase, targeting the upper trendline at $0.14.