Dogecoin Reverses Course, Breaking 50-Day Bearish Pattern – Is Another Rally Brewing?

Key Points

1. Dogecoin has risen slightly above $0.16 after a brief rebound, breaking a downward trendline that had persisted for over 50 days.

2. The Average Directional Index (ADX) on the weekly timeframe shows a lower low, a signal that historically preceded major Dogecoin bull runs in 2017 and 2021.

3. Technical analyst Ali Martinez identifies $0.17 as a crucial resistance level; reclaiming it could trigger a rebound towards $0.21, supported by a TD Sequential buy signal on the 3-day chart.

4. Despite recent losses (14% in June), Dogecoin's resilience and bullish indicators hint at growing upside momentum.

5. Past cycles suggest that if DOGE follows previous trends, it could see significant price appreciation, with some projections targeting beyond $14 by 2026.