Dogecoin’s recent price action has caught the attention of traders and analysts alike, with signs pointing towards a potential bullish reversal on the horizon. Crypto Man MAB has identified a double bottom pattern forming on the weekly chart, a pattern that is often associated with trend reversals. This structure, combined with key support levels and technical indicators, suggests that Dogecoin may be gearing up for a comeback.
The key support level at $0.142 has proven to be a critical zone for Dogecoin, with bulls defending it back in April 2025. The current chart setup indicates that if this support level holds and bullish momentum continues to strengthen, the next major focus will be on the neckline resistance at $0.26. A breakout above this level could confirm the double-bottom pattern and pave the way for a rally towards the $0.47 target.
Analyzing the ADX indicator, Crypto Man MAB notes a weakening of the recent downtrend from the neckline resistance. This trend fatigue suggests that a shift in direction could be imminent, potentially favoring the bulls. Additionally, the Relative Strength Index (RSI) is hovering below the neutral 50 level, showing signs of increased buying interest. A decisive move above 50 on the RSI could further bolster the bullish case for Dogecoin.
Looking ahead, market sentiment surrounding the potential approval of a spot DOGE ETF has added to the optimism for Dogecoin. Both retail traders and larger investors are accumulating at these levels, setting the stage for a possible breakout. If technical conditions continue to improve and sentiment remains positive, the path towards the $0.47 target could become clearer in the near future.
In conclusion, Dogecoin appears to be at a critical juncture, with the potential for a significant trend shift on the horizon. Traders and investors are closely monitoring key levels and technical indicators for confirmation of a bullish reversal. With market optimism and accumulation at play, Dogecoin may be poised for a comeback in the coming days.