Dogecoin has continued on an interesting path, struggling between $0.2 and $0.24 during this time. Bulls have continued to maintain their hold on the major support levels, but this hold is weakened by the sustained market sell-off that began back in September. However, with the month of October expected to be quite bullish, there could be a quick turn in the tide for the Dogecoin price, with one crypto analyst expecting the altcoin to rally from here.
Analyst Predicts Dogecoin Price Will Hit $0.3
Crypto analyst TradingShot first starts out by explaining where the Dogecoin price currently is and how it is trading. Presently, the meme coin is still trading within a Channel Up, which began as far back as March 2025. Additionally, there is also the fact that Dogecoin has been trading above a new support on a higher-lows trendline. This was a trendline that began back in August, following the low that was recorded on the third day of the month.
Other bullish factors that contribute to this are the fact that the Dogecoin price is also seeing a lot of support from the 1D MA100. This 1D MA100 has held up quite nicely, and as long as bulls continue to maintain it, then the analyst does see the bullish trend holding.
Moving on to the present, the Dogecoin price is now entering what is arguably one of the most bullish months in history, and with this new month, the crypto analyst believes that the cryptocurrency could test the top of the higher-highs trendline of the current pattern.
Looking at the pattern, the top of the higher-highs trendline ended at the 1.136 Fibonacci extension level. This Fibonacci extension level coincides with the Dogecoin price at $0.32; thus, a test of the higher-highs trendline would put the Dogecoin price above $0.3 once again.
Bears Could Still Break Ground
Just as the 1D MA100 is the level holding up the price, it could quickly become bearish for the Dogecoin price if the bulls fail to hold it. TradingShot explains that a candle close below this point would cause the Channel Up to trigger a test of the higher low bottom. This would lead to a 42.82% decline, placing the target as low as $0.17.
Nevertheless, there seems to be a higher reward for buyers at this level since the market is expected to rebound. “As a result, the current price action, which has Doge sitting just above the 1D MA100, offers a great reward on the lowest possible risk,” TradingShot stated.
