• Dogecoin rebounds strongly from long-term support, signaling potential upside momentum toward $0.30.
• Market structure and recovery after correction indicate a healthy price organization for DOGE.
• Analysts highlight the next short-term targets between $0.27–$0.30 if buying momentum continues.

Dogecoin (DOGE) is holding strong at the long-term support level, displaying recovery signs following the recent correction. Analysts are observing that the price structure is good, hinting that momentum may head even higher. The token is poised for the next possible run towards the upper targets.

At the time of writing, Dogecoin (DOGE) is trading at $0.2385, with a 24-hour trading volume of $7.30 billion and a market cap of $37.15 billion. The coin decreased by 2.55% over the past 24 hours.

Dogecoin Bounces Off Key Support Level

Crypto analyst FOUR | Crypto Spaces reported that the price of Dogecoin managed to rebound off its long-term trendline for the fourth time, which is an indication that this level of support holds firm. Based on him, this is also priming the pumps for an upward move towards the $0.30 level.

Dogecoin Shows Recovery After Recent Correction

Meanwhile, BitGuru also noted that the price organization of DOGE appears to be healthy following the correction. The DOGE corrected over an impressive bullish run, retraced to the $0.24 support area, and is currently trying to reverse.

If purchasing momentum continues, the next targets for Dogecoin are anticipated by analysts at the $0.27–$0.30 level, reflecting still another potential gain during the short term. Investors and cryptocurrency enthusiasts will be monitoring aggressively if DOGE is able to sustain the upward momentum.

Also Read | DOGE Price Prediction: Bullish Setup Points to a Potential Surge Toward $0.50

Strong Bullish Confidence in the Market

The community is very bullish, as 86% of the voters are confident that the market direction is positive. That is an overwhelming majority showing an increase in confidence and expectations for the future price movement.

Meanwhile, there are only 14% voters who are still bearish, raising a few doubts or concerns among the players. The low percentage bearish shows the confidence prevailing in the sentiment that will contribute to the potential growth.

Also Read | Dogecoin Forecast For October 10: Analyst Eye $1 Next