Traders Eye $0.30 Target as DOGE Consolidates Again
The post Traders Eye $0.30 Target as DOGE Consolidates Again appeared on BitcoinEthereumNews.com.
Dogecoin holds above key EMAs, signaling cautious short-term bullish structure. Rising open interest highlights renewed trader confidence in DOGE futures market. Persistent exchange outflows indicate growing accumulation and long-term holding. Dogecoin (DOGE) is showing a gradual recovery after rebounding from its recent swing low near $0.2408. The token trades around $0.2522, holding slightly above the 20-day and 50-day exponential moving averages (EMAs). This mild recovery follows several weeks of tight consolidation, with traders watching closely for a potential trend confirmation. Besides, Dogecoin’s derivatives market has also regained momentum, hinting that speculative participation could soon drive stronger price action. Technical Structure and Support Outlook DOGE’s short-term trend remains cautiously bullish, provided the price stays above the $0.2450 area. This range aligns with the 100-day EMA and marks a zone where buyers have repeatedly defended positions. Significantly, a fall below $0.2460 could invite renewed selling pressure, exposing lower supports around $0.2408 and $0.2305. These levels coincide with the 23.6% Fibonacci retracement and an earlier accumulation base. LTC Price Dynamics (Source: TradingView) On the upside, the first resistance cluster appears near $0.2548–$0.2610, overlapping with the 38.2%–50% Fibonacci range. A clean breakout could push DOGE toward $0.2737 and $0.2882, representing the 61.8% and 78.6% retracement zones. Hence, a sustained move above $0.2600 would strengthen bullish momentum, potentially targeting the $0.30 level, which marks the previous local high. Futures Activity Suggests Renewed Trader Confidence Dogecoin’s open interest has risen notably after months of subdued activity. It reached $4.4 billion by October 10, signaling a rebound in speculative positioning. Related: Litecoin Price Prediction: Traders Bullish on LTC as ETF Optimism Fuels Momentum This follows a sharp decline after July’s peak of over $6 billion, when traders took profits following a mid-year rally. Consequently, the concurrent rise in both open interest and price suggests growing leverage in…
