Dogecoin’s price could rally by 32%, but here’s the catch…!prolonged downtrend, Dogecoin (DOGE) flashed signs of a strong bullish reversal, with its price action indicating significant upside potential.

In fact, on the four-hour timeframe, the memecoin seemed to face resistance from a descending trendline. At the time of writing though, it appeared to be slowly breaking out.

On the charts, DOGE was trading near $0.185, having recorded a modest price hike of 1.35% over the last 24 hours. After a bout of downside momentum, the memecoin saw rising participation from investors and traders. This finding fueled the Dogecoin (DOGE) price action and technical analysis

According to AMBCrypto’s chart analysis, DOGE could soon be poised for significant upside on the charts.

On the four-hour chart, the memecoin was consistently facing resistance from a descending trendline. However, after 

Dogecoin price prediction

Based on its recent price action and historical patterns, if the memecoin successfully breaks out of the trendline and closes a daily candle above the $0.19-level, there is a strong possibility that it could see a massive 32% upside move.

On the other hand, if DOGE’s price fails to sustain itself above the $0.19-level, the consolidation may continue further.

Worth noting, however, that DOGE’s 200-day Exponential Moving Average (EMA) on the four-hour timeframe has been trading above the memecoin’s price. This indicated that the asset may have been on a short for nearly three days, DOGE seemed to be breaking out of both the trendline and the consolidation pattern at press time – A bullish sign for the