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Reading: Dogecoin price reverses at $0.22 support as RSI confirms bullish divergence
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Finances Investing and Crypto News > Blog > Market > Dogecoin price reverses at $0.22 support as RSI confirms bullish divergence
Market

Dogecoin price reverses at $0.22 support as RSI confirms bullish divergence

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Last updated: 02/10/2025 1:41 Sáng
admin
Published 02/10/2025
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Contents
Dogecoin price key technical pointsWhat to expect in the coming price action

Dogecoin price has confirmed a hidden bullish divergence after defending support at $0.22. With consecutive higher lows intact, the setup points to a potential rally toward $0.34 if volume continues to build.

Summary

  • Dogecoin defended $0.22 support at the POC and 0.618 Fibonacci confluence.
  • Hidden bullish divergence signals potential continuation of the uptrend.
  • Breakout above the value area high could drive price toward $0.34.

Dogecoin’s (DOGE) price action has taken on a bullish character following a successful defense of the $0.22 confluence zone, where both the 0.618 Fibonacci retracement and the point of control (POC) overlap. This region has provided a technical base for a hidden bullish divergence, a powerful signal that often precedes upward continuation.

With market structure still showing higher lows and momentum building, traders are watching closely for Dogecoin’s attempt to reclaim the value area high, a critical resistance that has capped price in prior rallies. Supporting this outlook, Dogecoin is eyeing a potential 25% rally as ETF inflows accelerate, adding fundamental momentum to the technical setup.”

Dogecoin price key technical points

  • Hidden bullish divergence confirmed after defending $0.22 support.
  • Price action remains above the point of control and 0.618 Fibonacci retracement.
  • Immediate target lies at $0.34, with the value area high as the critical resistance to reclaim.

Dogecoin price reverses at $0.22 support as RSI confirms bullish divergence - 1
DOGEUSDT (1D) Chart, Source: TradingView

Dogecoin has successfully defended the $0.22 support region, where multiple technical confluences converge. The overlap of the 0.618 Fibonacci retracement with the point of control created a strong foundation for buyers to step in. This has now led to the confirmation of a hidden bullish divergence, a pattern that reinforces the strength of the existing uptrend and often acts as a precursor to fresh bullish momentum.

The next major obstacle for Dogecoin lies at the value area high (VAH). Previous rallies failed at this level, as price action was rejected multiple times without sufficient volume follow-through. However, the current structure presents a more compelling case for bulls, as momentum is now supported by improving volume inflows. Sustained buying activity at these levels will be essential for Dogecoin to break through the VAH with conviction and accelerate toward the $0.34 resistance zone.

From a market structure perspective, Dogecoin remains firmly bullish in the short term. Consecutive higher lows continue to define the uptrend, signaling that demand has persisted even during corrective moves.

If price manages to establish a higher high above the $0.34 region, it would confirm continuation of the macro bullish trend and open the door for extended upside targets.

What to expect in the coming price action

As long as Dogecoin maintains support above $0.22 and continues trading above the POC, momentum favors the bulls. The immediate test remains the value area high, which needs to be reclaimed for the bullish divergence to fully materialize.

If this breakout is sustained with volume confirmation, a rally toward $0.34 becomes the next logical move, setting the stage for further upside in the weeks ahead.

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TAGGED:bullishconfirmsDivergenceDogecoinpricereversesRSIsupport

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