Amidst the ongoing market uncertainty, Dogecoin (DOGE), the popular and top crypto meme coin, has shown bullish price action and is gearing up for a significant uptrend. As of today, March 20, 2025, the meme coin has experienced a 2% price surge, signaling a potential rally in the near future.
Current Price Momentum
DOGE is currently trading around $0.172, and its bullish price movement has attracted considerable attention from traders and investors, leading to a 45% increase in trading volume.
Dogecoin (DOGE) Technical Analysis and Upcoming Levels
Expert technical analysis indicates that DOGE is exhibiting a bullish trend as it has formed an ascending triangle pattern on the four-hour time frame, with a key resistance level at $0.178.
Based on historical price data, if Dogecoin manages to break above this level and close a four-hour candle above $0.18, there is a strong possibility of a 15% surge, targeting $0.205 in the coming days. Conversely, failure to breach this level could result in a decline towards $0.165.
Traders’ Bullish View on DOGE
Intraday traders are also displaying a bullish sentiment towards DOGE, with a preference for long positions, as highlighted by on-chain analytics firm Coinglass.
Data shows that traders are currently over-leveraged at $0.168, with $16.20 million worth of long positions, while $0.175 is another over-leveraged level with $5.30 million worth of short positions.
These over-leveraged levels and traders’ positions suggest that bulls are currently in control and could potentially propel Dogecoin to break through the current resistance level.
Furthermore, the overall sentiment in the cryptocurrency market today is positive, with major assets like Bitcoin (BTC), Ethereum (ETH), and XRP also experiencing significant gains.
In conclusion, Dogecoin (DOGE) is showing promising signs of a bullish breakout, supported by technical analysis and traders’ optimistic outlook. As the meme coin continues to attract attention and trading volume, it is poised for a potential upside rally in the days ahead.