Rally

Momentum

Dogecoin

Gains

Dogecoin Price Prediction: The cryptocurrency market is likely witnessing a pre-halving consolidation, evidenced by a narrow range formation in <a href="https://coingape.com/bitcoin-price-how-will-the-2024-halving-impact-btc/" rel="noopener noreferrer nofollow">Bitcoin</a>. While a majority of major altcoins follow the same trend, the leading meme cryptocurrency, Dogecoin, showcased a notable upswing hitting a 27-month high of $0.228.
However, the market is poised for a potential uptrend in the upcoming weeks as we approach April- the scheduled month for Bitcoin halving. Will this renewed market recovery push the <a href="https://coingape.com/dogecoin-whale-dumps-140-mln-doge-price-takes-bearish-turn-what-next/" rel="noopener noreferrer nofollow">DOGE price</a> to the $0.3 milestone?
Also Read: <a href="https://coingape.com/markets/dogecoin-price-gains-momentum-as-whales-dive-in-is-0-3-next-stop/" rel="noopener noreferrer nofollow">Dogecoin Price Gains Momentum as Whales Dive In, Is $0.3 Next Stop?</a>
<h2 id="b-rounding-bottom-pattern-sets-doge-for-prolong-rally-b">Rounding Bottom Pattern Sets DOGE For Prolong Rally</h2>
<figure style="width: 100%" class="wp-caption alignnone"><img decoding="async" src="https://s3.tradingview.com/snapshots/3/3hif5O24.png" alt="BINANCE:DOGEUSDT Chart" width="1946" height="937">
 <figcaption class="wp-caption-text">
 Dogecoin Price| Tradingview
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</figure>
The <a href="https://coingape.com/price/dogecoin/" rel="noopener noreferrer nofollow">Dogecoin price</a> rebounded from its last correction in March’s fourth week as buyers suitable support at the 50-day EMA. The positive turnaround uplifted the asset from $0.122 to $0.21 high, registering 86% growth.
The rising price has also surpassed the last swing high of $0.192, providing buyers with the next stepping stone to prolong recovery. Amid the current consolidation trend in the market, the DOGE price sees a minor pullback of 8% in 72 hours currently trading at $0.21.
With a market cap of $30.2 Billion, <a href="https://coingape.com/dogecoin-developer-signals-alert-over-bonkbot-trading-flaws/" rel="noopener noreferrer nofollow">Dogecoin</a> holds its position as the 8th largest cryptocurrency as per Coinmarketcap.
However, an analysis of the higher time frame chart shows parabolic growth resembling the formation of a rounding bottom pattern. The chart pattern is often considered a sign of a downtrend bottoming and an opportunity for a new bull run to emerge.
<figure style="width: 100%" class="wp-caption alignnone"><img decoding="async" src="https://s3.tradingview.com/snapshots/9/9heEIZsd.png" alt="BINANCE:DOGEUSDT Chart " width="1815" height="709">
 <figcaption class="wp-caption-text">
 Dogecoin Price| Tradingview
 </figcaption>
</figure>
Should the crypto market exhibit a bullish response to the anticipated halving, in line with historical trends and investor expectations, Dogecoin’s price is likely to align with the bullish pattern formation.
With sustained buying, the current rally may chase a potential target of $0.3, followed by $0.35 and $0.448.
Also Read: <a href="https://coingape.com/top-analyst-predicts-bitcoin-to-hit-75k-but-there-catch/" rel="noopener noreferrer nofollow">Top Analyst Predicts Bitcoin To Hit $75K, But There’s A Catch</a>
<h2 id="b-technical-indicator-b">Technical Indicator</h2>
<ul>
 <li style="font-weight: 400;" aria-level="1">Exponential Moving Average: A sharp upswing from the fast-moving 20-day <a href="https://coingape.com/education/exponential-moving-average-how-to-leverage-it-in-crypto-market/" rel="noopener noreferrer nofollow">EMA</a> indicates a high momentum rally which usually favors breakout traders.</li>
 <li style="font-weight: 400;" aria-level="1">Average Directional Index (ADX): The ADX slope at 41% indicates the overextended rally may need some pullbacks to regain strength.</li>
</ul>
The post <a href="https://coingape.com/markets/will-dogecoin-price-recovery-surpass-0-3-in-april/" rel="noopener noreferrer nofollow">Will Dogecoin Price Recovery Surpass $0.3 in April?</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

Will Dogecoin Price Recovery Surpass $0.3 in April?

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