Dogecoin (DOGE) Price Forecast: Crucial $0.0900 Support Could Spark 20% Move

2 days ago 33

March 29, 2025 by Mishal Ali

Key Takeaways:

Dogecoin is testing a key trend line, which previously acted as support in September 2024.
If the red trend line fails, the next crucial support lies at $0.0900.
A breakdown below both levels could trigger a deeper downtrend.

The price action of Dogecoin has reached a point of great importance where it is encountering a red descending trend line, a strong level that has acted as support in the past. The price action also aligns with historical data from last September, where DOGE rebounded from the same structure.

The chart shown by Master Kenobi establishes two major support levels—one dynamic and one static. Firstly, the red trend line has controlled price action for the past few months. Secondly, a yellow horizontal support around $0.0900 serves as a failsafe if the red line is broken.

DOGE’s price is currently trading close to the red trend line, which suggests a bounce if history is to repeat itself. Bearish momentum is, however, still present, as price action has continued to make lower highs and lower lows.

The fact that the Master Indicator is at the bottom of the chart shows that Dogecoin could be nearing an oversold situation, which could lead to buyers moving in.

If this trend line is broken, DOGE will likely test the $0.0900 support, and a breakdown below this may trigger a run to $0.0800 or lower.

DOGE Shows Mixed Signals as Market Structure Remains Fragile

The technical indicators accompanying the chart suggest mixed signals. Although the past data suggests a potential recovery, the overall market structure remains weak. The Master Indicator reveals neutral momentum, which implies DOGE is not yet well-positioned for a strong bounce.

There are two significant arrows on the chart highlighting past interactions with the trend line. One arrow is towards September 2024, where a successful bounce occurred. The other is towards the current price level, highlighting another test of support.

The red arrow points out a prior interaction in which Dogecoin reversed higher after touching the red trend line, increasing its significance. However, the negatively sloping price action could be an indication of deteriorating support.

If the yellow support level at $0.0900 kicks in, the market’s response will be significant. Holding above this point could usher in a period of sideways movement, but a break below could indicate additional losses.

Dogecoin Eyes $0.1100–$0.1200 If Trend Line Holds

A bullish scenario would involve Dogecoin bouncing off the red trend line, with a push into the $0.1100–$0.1200 area. This would open the door to a broader reversal, where DOGE can take out lower highs and reverse momentum in favor of buyers.

However, if the red trend line is broken, the yellow support at $0.0900 is the last line of defense. Falling below both can trigger a long-term downtrend, as Master Kenobi’s “see you another time” phrase suggests.

To add to that, another trader opines that the market structure of Dogecoin has changed to an uptrend, making higher highs and higher lows.

If DOGE holds above $0.178, we can expect new highs. If it falls below $0.164, the current uptrend will be negated, and DOGE will have to regain strength before attempting the resistance again.