Will Dogecoin price rebound past $0.3 in April?

Dogecoin Price Prediction: Cryptocurrency markets may experience pre-halving consolidation, as evidenced by Bitcoin’s narrow range. While most major altcoins followed the same trend, leading meme cryptocurrency Dogecoin saw significant gains, hitting a 27-month high of $0.228.

However, with April approaching (the month of Bitcoin’s scheduled halving), the market is expected to see a potential upward trend in the coming weeks. Will a renewed market recovery push DOGE price to the $0.3 milestone?

Rounding bottom pattern sets up long-term rebound for DOGE Dogecoin price rebounded from the last correction in the fourth week of March as buyers found suitable support near the 50-day EMA. 👉qun+V: tq58956👈 This positive shift took the asset from $0.122 to a high of $0.21, a gain of 86%.

The rising price also surpassed the last swing high of $0.192, providing buyers with the next stepping stone towards an extended recovery. Amid the current market consolidation trend, DOGE price has retraced slightly by 8% in 72 hours and is currently trading at $0.207.

Dogecoin has a market capitalization of $30.2 billion, making it the eighth-largest cryptocurrency, according to Coinmarketcap. Analysis of higher time frame charts shows parabolic growth similar to the formation of a round bottom pattern. This chart pattern is often considered a sign of a downtrend bottoming out and the opportunity for a new bull market to emerge.

If the cryptocurrency market shows a bullish reaction to the expected halving, in line with historical trends and investor expectations, the price of Dogecoin may align with the formation of a bullish pattern.

With sustained buying, the current rally is likely to chase a potential target of $0.3, followed by $0.35 and $0.448.

Technical indicators

Exponential Moving Average: A sharp rise from the fast-moving 20-day EMA indicates strong rebound momentum and is generally good for breakout traders.

Average Directional Index (ADX): The ADX slope is 41%, suggesting that an overextended rally may require some pullback to regain strength.

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