The price of Dogecoin will reach $0.6 if it breaks through this resistance level first.

The cryptocurrency market has experienced significant volatility in recent weeks, leading to a substantial decline in the meme coin group. Dogecoin, the leading coin in this segment, is also not immune to the trend, recording deep losses in recent days.

However, despite the negative developments, market experts remain optimistic about Dogecoin’s recovery prospects in the near future. The latest price forecasts indicate a strong belief in the potential for this meme coin to regain growth.

Experts also point out important price levels of DOGE that investors should watch to follow the next developments of this currency. Particularly, the overall trend of the cryptocurrency market is expected to play a key role in shaping Dogecoin’s outlook.

Currently, many investors are shifting capital from high-risk assets to safer options. Nonetheless, the DOGE price movement is still closely monitored, especially as forecasts for Dogecoin continue to maintain a positive trend.

DOGE Price Declines but On-Chain Data Reveals Positive Signals

In the past 24 hours, Dogecoin’s price has recovered slightly, increasing about 3.5% to $0.14. However, trading volume has decreased by over 41%, down to $696 million, reflecting market caution.

Over the past week, DOGE has been nearly flat, but over a 30-day period, this coin has lost about 19% of its value, fluctuating between $0.1324 and $0.1657.

The RSI indicator is currently at 42, indicating that Dogecoin is in a neutral zone. This suggests that DOGE may decline further before entering the “oversold” region, or it could rebound strongly in the near future.

Dogecoin Price Movement | Source: TradingViewOn the other hand, on-chain data reflects a positive investor sentiment. According to CoinGlass, Dogecoin’s open futures interest(Futures Open Interest) has increased nearly 7% to $1.5 billion, indicating growing confidence in an upward trend.

The recent 24-hour recovery also helps reinforce expectations of a next growth phase for DOGE.

Dogecoin Price Forecast Up to $0.6: Notable Information

As DOGE shows signs of recovery, a market expert has predicted that Dogecoin could reach $0.6 in the near future. According to Trader Tardigrade’s analysis, DOGE’s current behavior is quite similar to the strong growth phases in the past.

Dogecoin Price Prediction | Source: Trader Tardigrade, Based on historical momentum, experts believe Dogecoin has strong potential to surge to the $0.6 level. Short-term targets are also discussed. Analyst Ali Martinez notes that DOGE is trading within a triangle pattern, signaling a breakout possibility.

Dogecoin Price Analysis | Source: Ali Martinez, Technical analysis indicates that the $0.14 level is an important resistance. If DOGE surpasses this level, its price could rise sharply to $0.21 in the near future.

In summary, despite market volatility, technical indicators and on-chain data show that Dogecoin still retains its appeal and growth potential in the upcoming period. Investors should closely monitor key price levels and overall market movements to make informed decisions.