Amidst the ongoing market uncertainty, Dogecoin (DOGE), the popular and top crypto meme coin, has formed bullish price action and is poised for a massive upside momentum. Today, March 20, 2025, the meme coin has registered a price surge of 2%, indicating it is on the verge of a significant upside rally.
Current Price Momentum
DOGE is currently trading near $0.172, and with its bullish price action, it has attracted significant attention from traders and investors, resulting in a 45% jump in trading volume.
Dogecoin (DOGE) Technical Analysis and Upcoming Levels
According to expert technical analysis, DOGE appears bullish as it has formed an ascending triangle pattern on the four-hour time frame, with a neckline at the $0.178 level.
Based on historical price momentum, if the meme coin breaches this level and closes a four-hour candle above $0.18, there is a strong possibility it could soar by 15% to reach $0.205 in the coming days. Conversely, if the meme coin fails to break this level, it could decline to $0.165 in the future.
Traders’ Bullish View on DOGE
With the positive price action, intraday traders also seem bullish on DOGE, as they have been betting on the long side, according to on-chain analytics firm Coinglass.
Data reveals that traders are currently over-leveraged at $0.168 on the lower side, where they have built $16.20 million worth of long positions, while $0.175 is another over-leveraged level with $5.30 million worth of short positions.
These over-leveraged levels and traders’ bets clearly indicate that bulls are currently dominating and could push the meme coin to breach the current resistance level.
Besides all this, the overall cryptocurrency market sentiment today is bullish, as top assets, including Bitcoin (BTC), Ethereum (ETH), and XRP, have registered impressive gains.
