As per a recent update by C0d3slayer on X, Dogecoin is starting to exhibit early optimistic signals following a short-term retracement. He pointed out that the 1-minute chart is revealing subtle changes in momentum, indicating that a brief recovery might be developing. Although frequently disregarded, these micro-level formations are attracting the attention of active traders, who are scouting for initial entries ahead of the next major price fluctuation.
In the absence of a breakout, the early emergence of higher lows and purchasing activity offers a hint of optimistic potential. As the market assesses its next move, DOGE could be quietly preparing for a near-term upward surprise.
Technical Patterns Indicate Bullish Setup
From C0d3slayer’s recent insight, after momentarily declining to around $0.15100, the price surged back sharply alongside a noticeable increase in trading volume, which signifies that strong buying interest has returned at lower price points. This rebound suggests that traders were keen to acquire DOGE at a lower price, indicating an increasing confidence among bulls.
Presently, DOGE is trading near $0.15385, remaining slightly above a crucial support zone that has historically served as a pivot area for price movements. The capability to sustain this level could provide a robust foundation for future gains, particularly if momentum continues to gather strength. This zone holds significant technical importance for traders who recognize it as a delineation between short-term weakness and renewed strength.
He also emphasized the $0.15100 – $0.15120 range as a vital reaction zone, where DOGE experienced a substantial bounce, indicating strong buyer interest at that price point. He identified $0.15250 as a short-term accumulation zone, suggesting that traders might be gradually preparing for a potential breakout.
According to his study, the chart structure suggests a possible W-pattern, commonly referred to as a double bottom. Should the price continue to gain momentum above these levels, this formation would bolster the case for a recovery.
Optimistic Vs. Pessimistic Scenarios: What’s Next For Dogecoin?
At this pivotal moment, DOGE is positioned between key technical thresholds that could dictate its short-term trajectory. On the optimistic front, C0d3slayer highlighted that a breakthrough above the $0.15450 resistance, supported by significant volume, would indicate upward potential. In that case, price targets of $0.15550 and $0.15650 become relevant, aligning with recent reaction zones and short-term momentum changes.
On the other hand, a failure to remain above $0.15250 could lead to a retest of the $0.15100 support area. A slide below this level would undermine the bullish scenario, potentially invalidating the current reversal structure. Should selling pressure increase below $0.15100, DOGE may decline further, indicating that bears have reclaimed short-term control.
