Dogecoin has continued on an attention-grabbing path, struggling between $0.2 and $0.24 throughout this time. Bulls have continued to take care of their maintain on the key help ranges, however this maintain is weakened by the sustained market sell-off that started again in September. Nonetheless, with the month of October anticipated to be fairly bullish, there may very well be a fast flip within the tide for the Dogecoin worth, with one crypto analyst anticipating the altcoin to rally from right here.
Analyst Predicts Dogecoin Worth Will Hit $0.3
Crypto analyst TradingShot first begins out by explaining the place the Dogecoin worth at the moment is and the way it’s buying and selling. Presently, the meme coin continues to be buying and selling inside a Channel Up, which started way back to March 2025. Moreover, there’s additionally the truth that Dogecoin has been buying and selling above a brand new help on a higher-lows trendline. This was a trendline that started again in August, following the low that was recorded on the third day of the month.
Different bullish components that contribute to this are the truth that the Dogecoin worth can be seeing numerous help from the 1D MA100. This 1D MA100 has held up fairly properly, and so long as bulls proceed to take care of it, then the analyst does see the bullish pattern holding.
Transferring on to the current, the Dogecoin worth is now coming into what’s arguably one of the crucial bullish months in historical past, and with this new month, the crypto analyst believes that the cryptocurrency may take a look at the highest of the higher-highs trendline of the present sample.
Trying on the sample, the highest of the higher-highs trendline ended on the 1.136 Fibonacci extension degree. This Fibonacci extension degree coincides with the Dogecoin worth at $0.32; thus, a take a look at of the higher-highs trendline would put the Dogecoin worth above $0.3 as soon as once more.
Bears May Nonetheless Break Floor
Simply because the 1D MA100 is the extent holding up the worth, it may shortly change into bearish for the Dogecoin worth if the bulls fail to carry it. TradingShot explains {that a} candle shut beneath this level would trigger the Channel As much as set off a take a look at of the upper low backside. This would result in a 42.82% decline, inserting the goal as little as $0.17.
However, there appears to be a better reward for consumers at this degree because the market is predicted to rebound. “Because of this, the present worth motion, which has Doge sitting simply above the 1D MA100, gives an incredible reward on the bottom attainable threat,” TradingShot said.
