Dogecoin has staged a sharp rebound midweek as traders positioned ahead of a key macroeconomic decision.
The move aligned with broader risk-on sentiment across financial markets. Price action reflected renewed momentum after a recent pullback.
Market signals suggested rising participation and growing expectations of further upside.
Dogecoin price climbed 14% on Wednesday, reaching an intraday high of $0.112 from a low of $0.097.
The rally came as the Federal Open Market Committee meeting drew market attention.
Data showed traders assigned a 100% probability that interest rates would remain within the 3.50%–3.75% range.
Historical trends indicated DOGE often rises before FOMC announcements and retraces shortly after.
Crypto analyst Ali Charts stated on X that Dogecoin broke above the $0.1018 resistance level. He added that price now targets $0.1172 at the upper boundary of its ascending channel.
This breakout placed focus on the $0.10 to $0.11 zone, which remains a critical resistance area. A sustained move above this range would confirm a stronger trend reversal.
Dogecoin price technical structure mirrors 2023 rally pattern
Technical indicators pointed to a familiar setup. Analysts observed that Dogecoin replicated a pattern seen during its 2023 rally.
During that period, DOGE gained over 300%. Current price action respected an ascending support trendline formed since mid-2022.
A bullish MACD crossover on the weekly chart confirmed upward momentum.
Trader Tardigrade stated that the chart structure looked clean and suggested the bottom had formed. He projected that the next move could push DOGE toward $1.
Historical data showed FOMC-related pullbacks can be sharp. In March, DOGE dropped 15%, while futures open interest fell by $890 million.
Liquidations during that period reached $30 million. Despite this risk, analysts said the current fractal pattern could support a move toward $0.33 in the coming weeks.
Dogecoin pushes toward $0.1066 as bullish momentum strengthens
On the 1-day chart, Dogecoin is showing a clear shift from consolidation into a developing uptrend, with price recently climbing toward the $0.1066 level.
The structure reflects improving bullish control, marked by a sequence of higher lows and steady upward movement.
A breakout above the key $0.10 psychological level signals strengthening demand, with recent candlesticks showing increased buying pressure.
The RSI is hovering around 70.90, indicating strong momentum but also placing the asset in overbought territory.
This suggests that while the trend remains bullish, there is a growing likelihood of a short-term pause or minor pullback.
At the same time, the MACD indicator supports the bullish outlook, with the MACD line positioned above the signal line and positive histogram values confirming upward momentum.
The expanding gap between these lines further highlights strengthening trend momentum, indicating that buyers remain in control as long as these conditions persist.
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