Dogecoin has continued on an fascinating path, struggling between $0.2 and $0.24 throughout this time. Bulls have continued to keep up their maintain on the main assist ranges, however this maintain is weakened by the sustained market sell-off that started again in September. Nevertheless, with the month of October anticipated to be fairly bullish, there might be a quick turn in the tide for the Dogecoin price, 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 presently 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 assist 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.
Associated Studying
Different bullish elements that contribute to this are the truth that the Dogecoin price is also seeing a lot of support from the 1D MA100. This 1D MA100 has held up fairly properly, and so long as bulls proceed to keep up it, then the analyst does see the bullish development holding.
Transferring on to the current, the Dogecoin worth is now coming into what’s arguably probably the most 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.
Wanting 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 test of the higher-highs trendline would put the Dogecoin price above $0.3 as soon as once more.
Bears Might 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 under this level would trigger the Channel As much as set off a take a look at of the upper low backside. This could result in a 42.82% decline, putting the goal as little as $0.17.
Associated Studying
Nonetheless, there appears to be the next reward for consumers at this degree for the reason that market is expected to rebound. “In consequence, the present worth motion, which has Doge sitting simply above the 1D MA100, affords an excellent reward on the bottom attainable threat,” TradingShot said.
Featured picture from Dall.E, chart from TradingView.com
