Why The Dogecoin Price Could Reverse To $0.5 As Momentum Reaches Historical Lows

Dogecoin has spent the past several days trading around $0.19, holding relatively stable amid quiet volatility in the entire ￰0￱ has spent the past few days trading within a tight range between $0.18 and $0.20, showing a slight increase in trading activity compared to last ￰1￱ the price action has been mostly subdued, a new technical analysis suggests that a significant reversal could soon be underway, one that may send the Dogecoin price surging to at least $0.5 once momentum returns to the ￰2￱ In The Lower Band Of Its Long-Term Channel Technical analysis of Dogecoin’s macro price chart shows the king of meme coins is now trading at a historical bullish momentum ￰3￱ analysis, which was posted on the social media platform X by crypto analyst EtherNasyonaL, looks at Dogecoin’s price action on the 3-month candlestick timeframe ￰4￱ Reading: Analyst Says Dogecoin Price Is Ready To Surge, But Buy DOGE Under These Levels The analysis shows that Dogecoin is currently trading within a well-defined ascending channel that goes as far back as when it was ￰5￱ it stands, Dogecoin is now trading around the lower boundary of this ￰6￱ flash crash earlier in the month created a downward wick that bounced off a confluence of supports right on this ￰7￱ long-term structure reveals a consistent pattern of Dogecoin bouncing back each time it reaches this lower band, with previous reversals leading to exponential ￰8￱ current setup mirrors the same early stages of recovery seen before the 2021 breakout that sent the Dogecoin price from below $0.1 to above $0.70.

EtherNasyonaL explained that Dogecoin’s momentum has now reached “historical lows,” with the Stochastic RSI confirming a bottoming phase similar to those seen before previous bull runs. Furthermore, the analyst described this period as a phase of “quiet, calm, yet determined recovery,” meaning that the market is gradually regaining strength beneath the ￰9￱ Bottom Means Price Bounce The momentum oscillator displayed in EtherNasyonaL’s chart supports this ￰10￱ Stochastic RSI, which tracks the rate of change in momentum, is at its lowest level, even lower than before Dogecoin’s rally in ￰11￱ history repeats itself, Dogecoin could be entering the same type of accumulation phase that set the stage for its 2020/2021 ￰12￱ Reading: What Happens To The Dogecoin Price If The Bitcoin Price Crashes Below $65,000?

This view is further supported by the positioning of the price within the ascending ￰13￱ Dogecoin currently trading around the lower range, it effectively sets a technical foundation for another upward ￰14￱ Dogecoin follow its established pattern, a rebound toward the midline of the channel would place its price at least at $0.5. A continued move upward would see Dogecoin break into new all-time highs above $0.9 and $1 in conservative ￰15￱ the time of writing, Dogecoin is trading at $0.1945, having increased by 1.9% in the past 24 ￰16￱ image from Getty Images, chart from ￰17￱