Dogecoin (DOGE) Nears Breakout As Analysts Highlight The $0.280 Target

Dogecoin (DOGE) is currently trading at $0.1403, with an increase of 0.29% in the past 24 hours. The trading volume has reduced by 52.03%, with the market capitalization at $23.63 billion. The coin has fallen 7.57% over the last week, and traders are monitoring the price response around key trend indicators.

Source: CoinMarketCap

DOGE Nears Breakout With Momentum Returning

Crypto analyst Jonathan Carter highlighted that DOGE is on a path to break out of its downward channel. He reported that the action above the 50-day average indicates the initial momentum regaining. He indicated that this reversal can be the initial phase of a trend reversal.

The analyst established targets for upside of $0.153, $0.182, $0.206, $0.240, and $0.280. He clarified that every level shows the historical reaction points in the chart. He also stated that traders can revisit momentum when DOGE is approaching such zones.

Source: X

Moreover, another analyst, Javon Marks, revealed that DOGE continues to build out higher lows. He explained that this long-term structure will be positive provided that this trend continues. In case the structure is intact, the price growth scenario will target the levels of the all-time high of $0.73905. He further indicated that the minimum target is 4.5x growth as per the current trend.

Source: X

DOGE Shows Neutral Momentum With Key EMA Barriers

The RSI shows that there is controlled momentum in DOGE. The RSI is at 52.76, and the signal line is at 52.21, showing balanced market behavior. These readings demonstrate a neutral position with a limited inclination in favor of strength, with the price near the mid-range zone.

Also Read: Dogecoin Whale Activity Falls 86% in a Week as DOGE Trades Near $0.14

The exponential moving averages give the key trend structure on the chart. Major support and resistance areas can be defined by the EMA 20 of 0.13816, EMA 50 of 0.14324, EMA 100 of 0.15995, and the EMA 200 of 0.17975. The progressive downward curve in these averages evidences a decreasing trend, with EMA 50 serving as the most significant short-term indicator.

Source: TradingView

Open Interest Climbs Despite Lower Trading Volume

According to CoinGlass data, the trading volume of DOGE has reduced by 43.31% to $1.35 billion. The Open Interest has risen by 1.73% to $1.82 billion, which shows that the trader is still positioning. The OI-weighted funding rate is 0.0055%, which indicates a balanced market with a slight positive pressure.

Source: CoinGlass

In the last 24 hours, total liquidations are $596.77K, showing moderate leverage activity. Long positions account for $431.50K, while short positions are $165.27K. This suggests controlled market behavior as traders wait for a clearer move.

Source: CoinGlass

Cryptocurrency is currently at a pivotal position, with traders looking at price, momentum, and trend levels. The steady RSI position, the setting of certain EMA ranges, and the tight structure keep attention focused on figuring out if a clear move will happen in the next session.

Also Read: Sei Network On-Chain Activity Surges With the SEI Eyeing a Break Above $0.14