As of April 1, 2025, Dogecoin has been rising, along with the excitement of traders. According to CoinMarketCap, it trades at $0.1740 at press time, up 7.21% in the last 24 hours, with a market cap of $25.878 billion.
Dogecoin Price Analysis
The DOGE price is showing a descending triangle formation on the daily chart with an RSI of 44.47. This signals bullish potential that is yet to be marketed. This is coupled with the MACD, which shows a bearish crossover at -0.00764, which spells out bearish potential.
Source:TradingView
The current resistance level stands at $0.2367, and the support level is at $0.1380. If the price breaks above resistance at $0.2367, there is potential for the price to surge upwards to $0.618. This surely will signal bullish momentum.
On the other hand, if the price goes lower than the support level of $0.1380, it could sink lower to $0.0510, which signals a bearish trend.
At press time, Dogecoin’s trading price is $0.1740. The daily chart hints that Dogecoin could potentially test resistance at $0.2367. If it breaks that, $0.6180 could be the next target. But, if the price drops below $0.1380, then $0.0510 might also be in play, more so if bearish momentum picks up.
Dogecoin Futures
The current value of the OI-weighted funding rate is 0.00313. This bullish rate shows a positive sentiment for futures and options traders. The sentiment will prevail till traders avoid shorting and support the price rally. The bearish MACD warns of risk because funding rates alone will not be sufficient to tackle downside risk if there is a significant amount of selling.
Will Dogecoin Break Past Resistance?
Dogecoin seems to boast bullish momentum on both daily levels, due to the RSI and positive funding rate. However, a bearish MACD signal on the daily chart suggests caution at resistance. The overall verdict suggests a possible breakout above $0.2367 should buying continue, but there is also a risk for a drop near $0.1380.
Also Read: Elon Musk: US Govt Has No Plans to Use Dogecoin
