Dogecoin Price Prediction: DOGE Price Set For 15% Upswing If Buyers Break This Key Barrier

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Dogecoin Price Prediction: Amid the recent recovery in the crypto market, the Dogecoin price gave a bullish breakout from a long-coming resistance trendline. This breakout should release the build-up buying pressure and bolster buyers to resume the prevailing recovery phase, Here’s how you may trade this breakout.

Key Points

A potential breakout from $0.78 will encourage DOGE price for a $15% upswing
The rising DOGE price reclaimed 20-day EMA slope offers additional confirmation for long buyers.
The 24-hour trading volume in the Dogecoin coin is $657 Billion, indicating a 66% gain.

Source-Tradingview

A downsloping trendline gave a specific direction to the last five weeks’ downfall in Dogecoin price. This falling trendline acted as key resistance to assist traders in selling on a bullish upswing which is a key sign for an established downtrend.

However, on March 17th, the Doge price gave a decisive breakout from the overhead resistance trendline signaling an early sign of trend reversal. This bullish breakout should offer buyers a strong footing to lead to a further price rally.

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As of now, the Dogecoin price trades at $0.075, with an intraday loss of $0.97. Over the past four days, the price moved sideways above the breached trendline, reflecting price sustainability at the reclaimed level.

If the buying pressure persists, the post-retest rally should drive the memecoin above the significant resistancea of 0.078, $0.09, and $0.1. Each of these resistance breakouts will bolster buyers to challenge the following barrier.

On a contrary note, if the coin price shows rejection from $0.078 resistance, the bullish thesis will get weakened.