Dogecoin Charts Repeat Bullish SetupIs a 300% Surge Next?
- Dogecoin has surged over 42% this week, currently trading at $0.2473 with strong momentum.
- Analyst Trader Tardigrade sees a similar RSI pattern to 2017 and 2021 rallies forming again.
- MACD is nearing a bullish crossover; past signals led to 285% and 460% price jumps.
Dogecoin has made a strong start to May after staying mostly flat in April. Prices have jumped more than 42% this week, pushing above $0.24, driven by growing interest from both everyday and institutional investors. At the time of writing, Dogecoin trades at $0.2473 with an intraday high of $0.251, marking a 6.83% gain in the past 24 hours.
Technical signals are again stirring talk of a potential breakout. According to Trader Tardigrade, a well-followed crypto chart analyst, Dogecoins monthly Relative Strength Index (RSI) has begun to mirror the same pattern that appeared before its previous two major rallies. In his chart, the RSI forms a double-bottom shape in 2017, 2021, and now in 2025. Each time, that setup led to a sharp price spike.
In 2017, Dogecoin went from about $0.000327 to $0.011. Then in 2021, it surged from $0.0035 to $0.73. In both cases, the RSI hovered near 0.00002 before spiking toward 0.00007, which kicked off the rally. The same kind of RSI movement is now starting to show again.
Analyst Predicts Dogecoin RSI-Driven Rally
Dogecoins monthly RSI still has a lot of room for the next surge, said Trader Tardigrade, pointing to another rising curve. His chart for 2025 includes a new yellow box extending upward, with price levels visually pointing toward $8suggesting a long-term bullish projection.
The analyst has also flagged a second bullish signal. This one is on the weekly MACD chart. The MACD line is about to cross above the signal line, a move that has lined up with big upward trends in the past. The last two MACD crossovers in October 2023 and September 2024 triggered rallies of 285% and 460%, respectively.
In October 2023, Dogecoin climbed from $0.06 to $0.23. Then in September 2024, it soared from $0.086 to $0.48, reaching its highest price in several years. These crossovers both came after rounded bottom patterns formed on the charts a shape the coin is repeating again now.
MACD Close to Bullish Crossover
The current price structure shows the same rounded low and a higher bottom, with the MACDs blue line now nearing an upside cross. This, combined with strong crypto market sentiment after Bitcoin broke above $100,000, gives weight to the case that Dogecoin could be entering a third strong rally.
Tardigrade projects the $1 level as the next target. This figure sits on an ascending resistance line that previously marked the peaks at $0.23 and $0.48. The current setup looks ready for a repeat, suggesting the meme coin could follow a similar climb if the MACD breakout completes.
Reaching $1 from current levels would mean a price jump of around 304%. Though ambitious, this target lines up with Dogecoins history of quick and large movements once key signals align.
Read More | Bitcoin Set for Breakout as Key Resistance Levels Are Tested
Read more: https://www.tronweekly.com/dogecoin-charts-repeat-bullish-setup/
Text source: TronWeekly
