- DOGE price is forming higher lows, signaling growing bullish momentum on the daily chart.
- The $0.29 resistance has rejected DOGE twice this year—breaking it may trigger a breakout rally.
- A confirmed move above $0.29 could target $0.50, aligning with historical breakout patterns.
Doe price is demonstrating some resilience and moving towards a critical level of resistance that would spark a significant price movement. It has been increasing steadily in terms of the higher lows and the growing bullish momentum making all focus on the $0.29 barrier. An escape out of this price is a potential expression of the beginning of an intense increase towards $0.50 that repeats what has occurred historically in terms of rallies that have characterized the explosive Dogecoin behavior in history.
DOGE Price Eyes Breakout: Can a Move Above $0.29 Ignite a Rally to $0.50?
Daily DOGE price chart shows a pivotal point of price movement. DOGE price is also currently trading at approximately $0.238 and as such, it appears to be gaining strength after leaving the consolidation range of $0.22 to 0.225. This upward momentum keeps it within striking distance of an important resistance zone at $0.29 which according to analyst Ali Charts, is the doorway to an even more significant step, possibly as high as $0.50.
Ali observes that the technical significance of that level is that a break above $0.29 will see a run to $0.50. In the past, the $0.29 level has been a powerful rejection level as witnessed in early April and once more in July. Any reaffirmed daily close above this would be a major breakout of the multi-month range that would support the bullish thesis.
Structurally, DOGE price is establishing higher lows since the low near $0.17 in July, indicating a reversal in trend momentum. The support area of $0.205- $0.22 is still solid meaning that there are still high numbers of buyers at the lower levels. The breach at the level of $0.29 would probably stop orders and momentum traders would rush to the instrument, possibly triggering the price to rise at a higher rate to the area of $0.40 to $0.50.
The second large resistance at a value of above $0.29 is at the level of about 0.36 but with the volume support and bullish momentum that DOGE price has shown in the past a technical possibility of a rise to $0.50 is possible.
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