Dogecoin Bulls Watch $0.28 As Breakout Signals Stack Up

Dogecoin (DOGE) traded at $0.14 on Friday, up 0.25% in the last 24 hours, according to market tickers. The coin’s weekly performance showed a fall of 7.40%. Trading activity has eased sharply, with one source reporting a drop in volume of 50%.

Key Momentum Readings And Moving Averages

According to market data, DOGE RSI sits at 52.70 with a signal line at 52, which points to fairly balanced momentum and no clear bias. Exponential moving averages line up as follows: EMA 20 at $0.13, EMA 50 at $0.14, EMA 100 at $0.15 and EMA 200 at $0.17.

The EMA set shows a downward curve overall, and the EMA 50 is being watched closely as a short-term barrier. The coin’s market capitalization stood at $23.60 billion.

Analysts Offer Targets As Price Forms Higher Lows

Crypto analyst Jonathan Carter set a ladder of upside targets at $0.15, $0.18, $0.20, $0.24 and $0.28, saying that those levels correspond to past reaction points on the chart. Based on reports, Carter views price action above the 50-day average as an early sign that momentum is returning.

DOGE has been building higher lows, which would be a positive structure if it holds. Other analysts identified the all-time high at $0.73 as a long-term reference and noted a fourfold minimum growth target from current prices under the existing trend.

Open Interest Climbs While Volume Drops

CoinGlass data showed trading volume down by 43% to $1.30 billion in one report, even as Open Interest rose 1.70% to $1.80 billion. Total liquidations in the last 24 hours were listed at $596K, with long positions making up $431K and shorts $165K. This split suggests more long exposure among leveraged traders at the moment.

Market Structure Means A Clear Move Is Needed

Traders are sizing up several clear levels. A sustained move above EMA 50 at $0.14 could invite more buyers. A failure to hold the EMA 20 support at $0.13 would raise questions about the short-term strength. While momentum indicators are neutral now, a decisive break either way would likely be followed by sharper swings given low volume.

The current picture is mixed: signals of regained momentum sit beside declining volume and a downward slope in longer EMAs. Positions are being kept, as shown by rising Open Interest, but many market participants appear to be waiting for confirmation. If buying pressure returns and volume recovers, the analyst targets listed above could come into focus. If not, the chart may remain in a tight range for some time.

Featured image from Unsplash, chart from TradingView