3-7-2025 – Dogecoin (DOGE) rallied 10% on July 1, breaking above a descending trendline on the 1-hour chart, signaling a shift in short-term momentum, according to technical analysis shared on X by Trader Tardigrade. The meme coin climbed from a local low of $0.1427 to $0.1613, a 13% gain in days, driven by renewed buying interest.Technical indicators bolster the bullish outlook.
RSI and MACD indicators support bullish outlook
The 1-hour Relative Strength Index (RSI) rose above 60, reflecting strong momentum without reaching overbought levels, while the Moving Average Convergence Divergence (MACD) showed a bullish crossover, suggesting further upside potential. Moderate volume spikes during the breakout, reported by CoinDesk, lend credibility to the move. However, 4-hour chart indicators hint at potential exhaustion, with RSI and MACD showing signs of weakening momentum, urging caution among traders.
The breakout aligns with Dogecoin’s history of volatile, sentiment-driven rallies, often fueled by social media or market-wide optimism. Key support at $0.16, the trendline retest zone, is critical for sustaining the uptrend, while resistance at $0.17–$0.175 poses the next hurdle.
A broader crypto market recovery, alongside Bitcoin’s recent stability above $55,000, may be supporting DOGE’s climb, though its reliance on speculative momentum remains a risk. Traders should watch whether DOGE holds above $0.16 and clears $0.17 to target $0.18–$0.19, or risks a pullback to $0.14–$0.145 if momentum fades.