DOGE repeats bullish pattern – $0.30 next?

Amid a fickle period for the larger part of the cryptocurrency market, Dogecoin (DOGE) is continuing to carve out a promising double-bottom reversal pattern, a classic bullish setup signaling seller exhaustion and growing accumulation interest.

Specifically, DOGE has once again shown this pattern, which forms when price tests a key support level twice and rejects it both times, on its 3-day timeframe, after already printing a similar one earlier this year, according to the analysis shared by crypto trading expert Trader Tardigrade on October 30.

As it happens, the previous occurrence preceded Dogecoin’s sharp breakout toward the $0.30, and now it’s bouncing from basically the same structural zone, which means that momentum may once again be building for a larger upside move.

Historical setup suggests breakout potential if resistance flips

Notably, the bullish case hinges on DOGE holding its higher low and pushing toward overhead resistance. A decisive breakout above recent swing highs would confirm the double-bottom completion and open the door to a continuation move, potentially toward the $0.27 – $0.30 zone highlighted in the chart.

For the time being, Elon Musk’s favorite crypto asset is changing hands at the price of $0.1897, which indicates a decline of 2.32% in the last 24 hours, a 2.96% drop across the previous seven days, and an accumulated loss of 17.33% on its monthly chart, per the latest information.

Recently, Dogecoin was testing the lower boundary of its ascending channel, a level that has repeatedly served as strong support during the ongoing bullish trend, and aligning with technical indicators like the relative strength index (RSI), revealing a hidden bullish divergence.

All things considered, market sentiment remains cautious across crypto, but structure-focused traders may see this as a constructive signal. If buyers maintain strength and volume increases on the next push upward, Dogecoin could be gearing up for a strong upside leg similar to its previous recovery phase.

As always, confirmation is key as failed breakouts around neckline resistance remain a risk until momentum fully flips.