Dogecoin has jumped 3.22% in the past 24 hours, securing its position above the key $0.15 level. A bounce from the $0.1427 low shows that bulls are defending this critical support.

Currently, DOGE trades at $0.1666 but is experiencing a 3.35% intraday pullback. Despite this dip, yesterday’s 4.84% surge suggests increasing investor interest. Although volatility remains high, DOGE is showing key technical signals that could drive its next big move.

Bearish Death Cross vs. Bullish Breakout—Who Wins?

A significant event on Dogecoin’s daily chart is the death cross between the 50-day and 200-day EMA lines. This bearish signal often leads to extended selling pressure, but recent price action challenges this outlook.

DOGE’s price suggests it may consolidate before deciding its next direction. Strong support at $0.1402 is preventing further declines, while resistance at $0.17394 stands as the next major hurdle. If Dogecoin breaks past this level, it could push toward $0.20 and higher.

Analyst Predicts DOGE Rally to $0.59—Here’s Why

Crypto analyst Ali Martinez sees multiple bullish signals pointing to a price surge. One key indicator is the Doji candle on the weekly chart, a known reversal pattern that often signals trend shifts.

Martinez also highlights a rising channel pattern, suggesting that DOGE is testing a critical support level. If buyers capitalize on this setup, Dogecoin could break higher, aligning with the analyst’s $0.5695 price target.

Dogecoin Network Expands 111%—A Bullish Signal?

Beyond the charts, Dogecoin’s fundamentals are strengthening. According to Glassnode, Dogecoin’s network growth has been remarkable. Over the past month, new DOGE addresses have soared from 16,400 to 34,600, marking a 111% increase.

Why is this important? A growing network often signals increased adoption and potential accumulation. If this trend continues, Dogecoin could build the momentum needed to fuel a sustained rally.

Can Dogecoin Break Out and Hit $0.59?

Dogecoin sits at a crucial point. If buyers push DOGE past the $0.17394 resistance, a rally toward $0.20 and beyond could follow. Analysts believe the price may even reach $0.59 in the coming months.

However, traders should track Bitcoin and overall market sentiment, as meme coins often follow broader market trends. If Dogecoin loses support at $0.1402, another dip could occur before a strong rebound.

Read Also: Dogecoin ETF Filing Fuels Optimism as Futures Volume Climbs

Traders looking for the next move should focus on critical price levels. A breakout above $0.17394 could confirm bullish momentum, while a drop below $0.1402 may delay further gains. Investors should also watch network growth and market sentiment for additional clues about DOGE’s next direction.