According to Ali Charts on X, Dogecoin ($DOGE) is exhibiting early signs of a likely breakthrough as it trades within a historically powerful accumulation range.
On the weekly chart, the Relative Strength Index (RSI) is hovering around 47, and the current price is $0.2134. Analysts are keeping a tight eye on the price for any indications of potential momentum.
Traditionally, entering such RSI ranges and price levels has been followed by tremendous upward movement in Dogecoin; thus, this particular setup is of high interest to both retail and institutional traders.
Dogecoin’s Technical Setup Aligns With Previous Bull Cycles
According to technical experts, an RSI of 47 indicates neutral momentum, which occurs around the period of substantial market movements.
The current resistance level is approximately $0.247, which serves as the bulls’ first important test. If the price closes above that level, it may lead to greater gains and renewed market excitement.
The negative side is that DOGE has developed support at $0.1890. Should that level be maintained, it would put stronger support under the current consolidation pattern as a positive setup to be used rather than a breakdown.
Sentiment Rebounds as Traders Eye Upside
The rest of the crypto market has been quite stable and positive, creating favorable conditions for altcoins like Dogecoin to regain attention.
In the event of volume rising and RSI starting to drive higher above the 50 level, traders could sense that another test of rallying Dogecoin for this bull run has started.
The zone Dogecoin is in is historically a bounce-up zone, but nothing is certain. In the coming days, traders will be on the edge of their seats to see whether history repeats itself.
