Dogecoin Eyes $0.10 After Bullish Breakout. Source: EconoTimes
Dogecoin is once again approaching the psychologically important $0.10 price level after a strong recovery pushed DOGE above its key 200-day moving average, strengthening the cryptocurrency’s short-term bullish outlook.
DOGE rallied sharply on Saturday, climbing from a low of approximately $0.084 to $0.095 as buying momentum returned. The latest advance extends Dogecoin’s recovery from its September 2 low near $0.08.
An earlier rally on September 3 pushed DOGE as high as $0.089, but the meme cryptocurrency failed to break decisively above the daily 200-day moving average and subsequently retreated. Saturday’s move proved stronger, allowing Dogecoin to clear the technical barrier and approach the $0.10 resistance level.
However, DOGE has since pulled back to around $0.088 and is attempting to remain above the 200-day moving average. Holding this level could reinforce the bullish case and give buyers another opportunity to challenge $0.10.
The ten-cent mark remains a major hurdle for Dogecoin. A previous rally in mid-August stalled around $0.10 before sellers regained control. Dogecoin community member Krisspax noted that DOGE reached $0.095 during Saturday’s run before retracing toward $0.0887 early Sunday, raising the possibility of another attempt to break above ten cents.
Technical indicators are also pointing to potential upside. Crypto analyst Ali recently identified a breakout from a bullish flag pattern on Dogecoin’s lower timeframes, with the formation suggesting a possible move toward $0.12.
DOGE has also formed a morning doji star pattern on the daily chart. This bullish reversal formation can indicate weakening selling pressure and renewed demand following a downtrend.
Key Dogecoin support currently sits around $0.0813. Immediate upside targets include $0.095, $0.10 and $0.12. If bullish momentum accelerates and DOGE establishes a sustained breakout above these resistance levels, longer-term targets could extend toward $0.1552 and $0.1774.
For now, Dogecoin’s ability to remain above the 200-day moving average could determine whether the meme coin finally turns its latest recovery into a successful breakout above $0.10.