- Dogecoin’s weekly RSI and candlestick patterns suggest a potential bullish reversal.
- A TD Sequential “9” buy signal supports the case for upward momentum, with analysts targeting the $1 level.
Dogecoin (DOGE) is showing signs of a potential trend reversal, with key technical indicators showing a sign of a possible bullish breakout.
As of March 31, 2025, DOGE is trading at approximately $0.1643, down 2.55% over the past 24 hours. Despite the setback, technical indicators are indicating a potential breakout in the near term, with some traders setting their sights on the long-standing $1 target.
The weekly Relative Strength Index (RSI), a commonly used momentum indicator, is currently trending lower toward a weakening trend towards oversold levels. Analysts view this setup as consistent with previous bullish reversals, particularly when combined with candlestick patterns such as the Doji and inverted hammer—both of which recently printed on Dogecoin’s weekly chart.
These formations are similar to a technical condition observed before major price rallies in October 2023 and September 2024, when DOGE experienced a surge in price following similar signals.
At present, the coin continues to trade above key support levels, a factor analysts say supports the possibility of another breakout.
TD Sequential Issues Buy Signal
Further supporting this bullish sentiment is the appearance of a “9” buy signal on the TD Sequential indicator—a strong and rare indicator of trend exhaustion that often portends a reversal in the market direction.
The signal was printed on Dogecoin’s weekly chart, suggesting the recent downtrend, which began after DOGE reached a mid-February high near $0.185, is close to finishing.
“Historically, the ‘9’ signal has coincided with trend reversals when supported by other indicators,” said an analyst tracking the asset. “When paired with RSI behavior and the candlestick setup, it raises the probability of a short- to medium-term bounce.”
Traders are currently monitoring resistance levels at $0.18 and $0.22, with long-term speculative targets returning to the $1 psychological threshold, which Dogecoin has not reached since the early 2021 rally.
However, the general market conditions remain a critical factor. The direction of Bitcoin, macroeconomic sentiment, and investor risk interest will likely influence whether any potential breakout in DOGE is sustained.
While the technical case for a reversal is building, analysts state the importance of confirmation before positioning for a longer-term move. For now, Dogecoin remains range-bound but technically set for a potential breakout—should the conditions are met.