Dogecoin (DOGE) is forming a giant bullish pennant pattern on its monthly chart, signaling potential for a major breakout. Analyst Trader Tardigrade suggests this continuation pattern could drive prices toward $0.35 if the upward move occurs. However, short-term momentum remains bearish, with technical indicators showing weakness. The cryptocurrency is testing key support at $0.08749 while facing resistance at $0.09257, making the coming days critical for its direction.
Dogecoin is forming a giant bullish pennant on its monthly chart, signaling a potentially strong upward move. According to crypto analyst Trader Tardigrade, this continuation pattern shows consolidation after a sustained rally.
The pattern held firmly at key support last month, suggesting market confidence. Trader Tardigrade anticipates that once DOGE breaks upward from this pennant, momentum could drive prices toward $0.35.
The long-term monthly trend remains strongly bullish, reflecting a resilient market. Traders and investors are closely watching this setup for a potential major surge.
Short-term technical analysis reveals a persistent bearish trend throughout early March 2026. Price action remains trapped below the Moving Average Ribbon, with the 20-period SMA at $0.09183 serving as immediate overhead resistance.
Frequent rejections at the upper Bollinger Band confirm sellers are maintaining control. The asset is currently testing lower support at $0.08749 against the Bollinger Band.
The Relative Strength Index is falling into bearish territory, recording a reading of 38.46. This indicates weakening buying power as the price trades around $0.089.
The MACD further reinforces the bearish sentiment as the blue line goes into negative territory. The histogram reflects this as the red bars increase in length as the bearish sentiment gains traction.
