Dogecoin (DOGE) Price Poised to Breakout Above $0.17

Crypto analyst Cryptokijker has revealed that the Dogecoin (CRYPTO: DOGE) price is poised for a breakout above $0.1790. The analyst revealed that the targets on this potential breakout are $0.1840 and $0.1920.

According to the latest trading analysis post shared on Monday, the price at this level is showing a neutral-bullish structure after the recent breakout above the Previous Day Low (PDL). The analyst also highlighted a hidden bullish divergence spotted on the Relative Strength Index (RSI), indicating strength beneath the surface.

This Dogecoin price prediction comes amid massive accumulation of DOGE by whales. As highlighted by Cryptokijker, smart money has been accumulating heavily within the discount zone between $0.15 and $0.16, which supports this bullish bias.

“The break of structure signals the start of a markup phase. Volume profile supports the transition from accumulation to expansion. Strong support confirmed at the $0.1760 zone, previous discount accumulation. Momentum building above PDL supports the sustainability of the bullish move,” the analyst wrote on Monday.

Dogecoin Price Chart Analysis

The crypto analyst explained that the chart structure on the 4-hour time frame is showing a neutral-bullish bias after the recent breakout above the PDL. The price is currently trading above the middle Bollinger band, which is typically a sign of bullish momentum.

The RSI is also showing some bullish momentum, having risen above the 50 level. However, the RSI is still relatively low, which suggests that the price may have some room to run yet.

Crypto traders will also be keeping an eye on the psychological $0.2 level for the Dogecoin price on this potential breakout. Crypto analyst Ali Martinez revealed that DOGE could rally towards its all-time high (ATH) if it can secure a monthly close above $0.20.

In a recent X post, Martinez stated that such a breakout would signal strong bullish momentum and potentially attract increased investor interest, potentially leading to a rally towards the ATH.

“If Dogecoin manages to close the month above $0.20, it could set the stage for a continuation of the bullish trend, potentially aiming for the all-time high.”

It is worth mentioning that crypto analyst Master Kenobi recently predicted that the Dogecoin price could reach a new ATH by June. In a recent X post, Kenobi stated that the foremost meme coin could hit as high as $0.9 on the rally to a new ATH.

“My prediction: Dogecoin will hit new all-time highs in June, potentially reaching $0.8-0.9. It’s the most talked-about coin, and everyone will be buying into the hype.”