Dogecoin Is at a Breaking Point: Will the Bulls Push the Price Up to 0.35 USD?

Dogecoin entered August with a bounce back momentum that began to draw attention from both traders and long-term holders. This recovery is not just a story about price volatility; it is also supported by stable network performance and favorable on-chain conditions. With the current price of DOGE at 0.1726 USD, up 5.19% in the last 24 hours and 4.30% over the past week, the upward momentum is gradually returning in a bullish direction following a volatile start to the month. Dogecoin Price Prediction: Technical Structure Indicates Breakout Potential

The daily chart shows that Dogecoin has found solid support at the 0.185 level, a zone that continuously draws attention for buying. From there, the price has bounced back above the 20-day simple moving average, which is often the first step in reversing the short-term trend from bearish to bullish. The current challenge lies at the resistance level of 0.245, coinciding with the upper Bollinger band. This level is crucial as it marks previous rejection points in prior bullish rallies. The Bollinger Bands are beginning to widen after several weeks of narrowing. The expansion of the Bollinger Bands after bouncing off the support area usually indicates that volatility is returning, often leading to a decisive directional move. If DOGE can close above 0.245 with high trading volume, the technical setup supports a bullish move towards 0.285 and potentially 0.305. In a more positive scenario, a strong breakout could target 0.35, especially if the cryptocurrency market in general is supported. Moving Average and Volume Indicator The 20-day moving average has bounced back, and the 50-day moving average is now the next target. Closing above both of these averages will confirm a change in market structure and draw attention from more trend-following traders. If the 20-day average crosses above the 50-day average, that bullish crossover will be an additional technical confirmation. On the momentum side, indicators such as RSI and MACD should be monitored for divergence or confirmation, as they can either confirm or challenge the breakout scenario. Risk Level to Monitor The bullish trend will be invalidated if the price does not break above the threshold of 0.245 and instead drops below 0.224. In that case, DOGE may revert to the level of 0.20 and could potentially test the support level of 0.185. A break below the level of 0.185 will shift the sentiment towards sellers and delay any significant bounce back. Dogecoin News: The Network Platform Remains Strong

Alongside the chart, the health of the Dogecoin network further reinforces this optimistic argument. The mining difficulty is currently at 25.98 MH, reflecting a stable mining environment with no signs of capitulation or security concerns. Block height 5,828,377 confirms that block production remains stable, a sign indicating consistent activity. One of the sustainable strengths of Dogecoin is its extremely low transaction costs. Even the fastest transactions only cost $0.000060 per byte, making it one of the major cryptocurrencies with the lowest transaction costs on the network. This cost advantage supports continuous use in microtransactions, tips, and retail payments, helping to maintain organic demand for DOGE regardless of speculative trends. The Interaction Between Technical and Fundamental The combination of positive technical recovery and solid network indicators creates a more convincing reason for a sustainable bullish trend. Price movements show accumulation at key support levels, while network conditions reinforce investor confidence. This correlation means that if the technical resistance level is broken, the upward momentum may continue stronger than when relying solely on technical momentum. Dogecoin Price Prediction: Short-Term and Medium-Term Forecast In the short term, breaking through the resistance level of 0.245 with trading volume above the daily average is a key factor. If this happens, the price of DOGE could test the level of 0.285 within one to two weeks, followed by the level of 0.305. If this breakout coincides with the overall bullish momentum of Bitcoin and Ethereum, the level of 0.35 could be reached before sellers intervene. In the medium term, maintaining above the level of 0.285 will be very important to sustain the bullish cycle, which could eventually challenge the area of 0.40. On the other hand, if it cannot surpass the threshold of 0.245 or market sentiment changes suddenly, the price of Dogecoin may drop back to the range of 0.20 to 0.185, turning the current bullish phase into a short-term bounce back rather than the beginning of a long term trend. Dogecoin News: The Final Outlook The bounce back of Dogecoin is at a crucial moment. The technical chart shows that the foundation for a breakout is being laid, with moving averages, Bollinger bands, and support levels trending towards buyers. The stability of the network, low fees, and healthy mining activity further reinforce the potential for continued bullish momentum. The next developments will depend on how the price reacts to the resistance level of 0.245. If it can clearly surpass this level, DOGE may advance to the level of 0.30 and beyond. If it fails to break this level, the market may witness another correction before the next bullish rally.