Dogecoin (DOGE) is ending September with mild bearish momentum, but technical indicators and historical performance suggest the coin could surge in October.
This outlook, shared by TradingShot in a TradingView post on September 30, indicated that Dogecoin has been moving within an upward channel since March, showing a consistent pattern of higher highs and higher lows.
DOGE price analysis chart. Source: TradingView
The analyst noted that recent price action has found support along the higher-lows trendline that emerged from the August 3 low, reinforced by the 100-day moving average (MA).
This support level is critical, as maintaining it suggests Dogecoin could test the upper boundary of the channel, aligned with the higher-highs trendline, during October.
To this end, TradingShot’s technical projections indicate that a successful rebound from this level could see Dogecoin reaching a target of $0.32, corresponding to the 1.136 Fibonacci extension of the prior move.
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