Dogecoin Price Eyes 130% Breakout If DOGE Breaks This Resistance

However, its worth noting that the current surge comes amid a broader crypto market recovery. During writing, the global crypto market cap soared 0.8% to $3.29 trillion.

Besides, most of the top meme coins are also traded in green, indicating renewed confidence among the market participants.

DOGE Price Technical Indicators Hint at Further Rally Ahead

Dogecoin prices recent surge to $0.162 has sparked optimism among analysts. Besides, the analysts noted that the technical indicators point to a further rally.

For context, in a recent X post, analyst Trader Tardigrade highlights a bullish MACD cross on the daily chart. This indicates a potential buy signal, which might help drive the prices higher in the near future.

DOGE Price Analysis | Source: Trader Tardigrade, X

In addition, in a separate post, he highlighted the DOGE prices recovery above $0.16 and an attempt to break a descending trendline. This trendline break could trigger a massive rally, if successful.

In other words, breaking this trendline would likely unlock new upside potential for the token. With these technical indicators in place, Dogecoins price could be poised for significant gains soon.

Can Dogecoin Rally 130%？

Amid the bullish technical indicators and the current recovery, a renowned market pundit has shared crucial insights on the potential future move of the meme coin. For context, in a recent X post, analyst Jonathan Carter shared a price chart for DOGE and said:

“Dogecoin is bouncing off the lower support boundary of a descending triangle on the daily timeframe.”

As per the price chart, the DOGE prices lower support boundary lies at $0.1618. Besides, Carter said that if the Dogecoin price breaks through the $0.17 resistance, DOGE could continue its run towards the north.

DOGE Price Prediction | Source: Jonathan Carter, X

Meanwhile, the analyst has set the next target for the meme coin at $0.20, $0.26, $0.31, and $0.39. Having said that, it appears that DOGE might rally 130% to $0.39 if it breaks through the $0.17 resistance ahead.