Dogecoin (DOGE) is forming a giant bullish pennant on its monthly chart, signaling a potentially strong upward move.
According to the crypto analyst Trader Tardigrade, as of Sunday, March 8, this continuation pattern, shaped over several years, shows consolidation after a sustained rally.
Last month, the pattern held firmly at key support, suggesting market confidence and positioning $DOGE for a significant breakout in the near future.
Source: Trader Tardigrade’s X Post
Trader Tardigrade anticipates that once DOGE breaks upward from this pennant, momentum could drive prices toward $0.35. Zooming out, the long-term monthly trend remains strongly bullish, reflecting a resilient market and structural growth potential.
Traders and investors are closely watching, as this setup hints at a major surge, making $DOGE one of the most closely monitored altcoins in the crypto market today.
Also Read: Dogecoin (DOGE) Slumps to $0.089 as Bears Dominate with $0.13–$0.15 Target
DOGE Technical Outlook Points to Downward Momentum
According to TradingView, as of Sunday, March 8, DOGE reveals a persistent bearish trend throughout early March 2026. Price action remains trapped below the comprehensive Moving Average Ribbon, with the 20-period SMA at $0.09183 serving as immediate overhead resistance.
Frequent rejections at the upper Bollinger Band confirm that sellers are maintaining control, preventing any sustained breakout above the $0.10 psychological level.
Source: TradingView
Currently, the asset is testing the lower support at $0.08749, which is being nudged against the lower end of the Bollinger Band.
The RSI is most likely indicating oversold conditions, as suggested by the lower highs traced out by the candlestick patterns. A hint at the turn of the trend can be obtained by a close above $0.09257.
Momentum Indicators Reinforce Bearish Outlook
The Relative Strength Index (RSI) is falling into bearish territory, recording a reading of 38.46, which is lower than the signal line of 41.70.
This indicates that the asset is getting closer to the oversold level but has not yet touched it, suggesting weakening buying power as the price is getting closer to the $0.089 level.
Source: TradingView
The MACD further reinforces the bearish sentiment as the blue line goes into negative territory as it dips below the orange line.
The histogram reflects this as the red bars increase in length as the bearish sentiment gains traction. Until a bullish crossover occurs, the consolidation will likely take the price of Dogecoin lower.
Also Read: Dogecoin Plummets to $0.094: Could DOGE Surge to $3 Next?
