• Dogecoin price seems to have formed a bottom as it set up a higher low at $0.30 on June 12.
  • Overcoming the resistance level at $0.328 and setting up a higher high above $0.355 could begin the upswing.
  • However, the buyers’ inability to push past the immediate supply barrier at $0.328 or $0.367 might result in a reversal.

Dogecoin price appears to be bullish and shows signs of a potential new uptrend. However, this upswing needs confirmation, which will arrive after DOGE produces a decisive close at a critical resistance level.

Dogecoin price vies for an uptick

Dogecoin price has been on a significant downswing since setting up a swing high on June 2 at $0.448. After a 34% sell-off, DOGE formed a bottom above the support level at $0.293 and looks ready to rally. 

However, despite Bitcoin price crossing $40,000, a crucial psychological barrier, altcoins, including DOGE, have failed to perform, suggesting that investors are only interested in BTC.

Assuming a potential spike in buying pressure does arrive, Dogecoin price needs to close above an immediate resistance level at $0.328.

Following this, the meme coin needs to set up a higher high above the previous swing high at $0.355 created on June 9. While this move might serve as an initial confirmation, a decisive close above $0.367 will signal an uptrend’s start.

If this were to happen, Dogecoin price might tag the resistance barrier at $0.399, roughly 22% away from the current position, $0.325.

DOGE/USDT 4-hour chart
DOGE/USDT 4-hour chart

Investors need to note that a failure to rise above $0.367 will indicate that the sellers are not done yet. In that case, DOGE could retest the demand barrier at $0.293.

However, a decisive close below $0.293 will set up a new swing low and open up the possibility of a 25% downswing to $0.213.


Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Recommended content


Recommended Content

Editors’ Picks

Japan mulls lifting Bitcoin ETF ban, slashing taxes on crypto gains

Japan mulls lifting Bitcoin ETF ban, slashing taxes on crypto gains

Japan's Financial Services Agency has proposed a rule change to bring crypto assets under the jurisdiction of the Financial Instruments and Exchange Act. The proposal, to be reviewed on June 25, could pave the way for the listing of Bitcoin ETFs.

Bitcoin recovers as Iran-Israel ceasefire fuels risk-on sentiment

Bitcoin recovers as Iran-Israel ceasefire fuels risk-on sentiment

Bitcoin price stabilizes around $105,000 on Tuesday after a 4.33% gain on Monday, driven by easing geopolitical and regulatory concerns. Global risk appetite is increasing as the ceasefire between Iran and Israel, along with the Fed's softer stance on crypto-related banking, takes hold.

Crypto Today: Bitcoin, Ethereum, XRP consolidate gains after Israel-Iran ceasefire 

Crypto Today: Bitcoin, Ethereum, XRP consolidate gains after Israel-Iran ceasefire 

Tensions in the Middle East have taken the backseat after US President Donald Trump announced a ceasefire between Israel and Iran on Monday. Global markets, including cryptocurrencies, ticked up, boosting BTC's recovery above $105,000 at the time of writing on Tuesday.

Pi Network Price Forecast: Minor recovery teases trend reversal amid GenAI claims, Pi2Day

Pi Network Price Forecast: Minor recovery teases trend reversal amid GenAI claims, Pi2Day

Pi Network edges higher on Tuesday, holding above a crucial psychological and trendline support. The Pi Core team teases a potential Generative AI feature to be announced on Pi2Day, June 28.  

Bitcoin Weekly Forecast: The calm before the storm

Bitcoin Weekly Forecast: The calm before the storm

Bitcoin (BTC) price remains steady above a key support level, trading slightly above $106,000 at the time of writing on Friday. The uncertainty looms as geopolitical tensions between Iran and Israel show no sign yet of an exit strategy from either side.

The Best brokers to trade EUR/USD

The Best brokers to trade EUR/USD

SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.

BTC

ETH

XRP