Dogecoin Set for Epic Rebound? Price Could Surge 350% After Key Support Confirmed

Gate News reports that on March 22, Dogecoin (DOGE) traded at approximately $0.09191, down 2.81% in the short term, but technical structures indicate a potential rebound opportunity. Since reaching a historical high of $0.73 in May 2021, DOGE has fallen about 73%, entering a long-term consolidation phase. Currently, the weekly chart shows the price oscillating near the upper boundary of a descending triangle, with support between $0.055 and $0.08. Analyst CryptoPatel points out that DOGE is in a long-term compression zone, with volatility narrowing and selling pressure easing.

Technical analysis highlights key demand zones and potential breakout opportunities. Analyst Crypto Lens emphasizes that around $0.07867 is a five-year demand zone, where similar breakout structures have previously led to gains of 173% to 421%. According to Elliott Wave Theory, DOGE may complete a fifth wave correction, with Fibonacci target zones between $0.093 and $0.094. If the correction completes near this level, buyers may test resistance at $0.098 to $0.10.

Hidden bullish divergence provides further signals. Analyst Javon Marks identified divergence in the $0.093 to $0.095 range, with the price maintaining higher lows while momentum indicators show lower lows, indicating weakening bearish pressure. If the trend continues, DOGE could rise over 350%, with a target price above $0.44.

Key levels to watch include resistance at $0.095 and $0.098, the psychological level at $0.10; support at $0.092 and between $0.088 and $0.090. A weekly close above the descending trendline with increased volume would confirm a rebound trend. On-chain data shows 60,000 to 110,000 active addresses daily, with 80,000 to 200,000 transactions per day, indicating stable activity. Market participants will closely monitor whether the $0.09 support holds to determine short-term bullish or bearish strategies.