Dogecoin has re-entered trader discussions on Friday, February 20, as bullish projections circulate across crypto markets.
The crypto analyst, Javon Marks, argues that the meme-based asset faces limited resistance below the $0.6533 region, a level increasingly cited as a potential launch point.
Market participants are watching whether momentum can build toward the historical peak near $0.73905, a psychologically significant threshold ahead now.
Source: Javon Marks X Post
Speculative commentary has further fueled enthusiasm, with some traders outlining scenarios implying 550–640% upside potential.
Javon Marks, however, stresses that such projections are theoretical constructs derived from prior rally patterns rather than guarantees.
DOGE’s price action remains tightly linked to sentiment, liquidity, and broader crypto conditions, leaving volatility a central theme as investors assess risk exposure.
Also Read: Dogecoin (DOGE) Cup & Handle Pattern Builds, Targets $0.14–$0.18 Zone
Dogecoin (DOGE) Technicals Point to Consolidation
According to TradingView, as of Friday, February 20, the price has settled into a small consolidation phase following a sharp advance on the 15th of February, which took the price up to the $0.115 level before reversing.
The price action since then has been one of relative calm, oscillating in a tight range of $0.0967 to $0.1015. The Bollinger Bands have been moving in closer, indicating a reduced volatility.
Source: TradingView
However, analyzing the exponential moving averages, it can be seen that the 20-period EMA is just below the current price, indicating a small sense of upward momentum.
On the other hand, the 50-period EMA and the 100-period EMA are clustered around $0.0996-$0.1015. They are acting as a resistance. The 200-period EMA is above at $0.1085, indicating a bearish bias.
Momentum Indicators Point to Easing Downward Pressure
Looking at the momentum gauges, the RSI is at 48.15, slightly above the signal line at 44.99. The RSI indicates a neutral condition, as it is not overbought or oversold.
Previously, the RSI shot up above the 70 level as the price surged on the 15th of February, but it’s since retreated, indicating a cooling-off period.
Source: TradingView
The MACD has ticked close to zero, with the line at -0.00065 just a hairline away from the signal line at -0.00061. The tiny histogram bars indicate little momentum and a sideways drift.
The recent bullish crossover was a companion to the price run but was followed by a bearish reversal. This, in conjunction with the RSI, suggests a state of equilibrium in the markets.
Also Read: Dogecoin Bulls Target $0.14 After Historic TDOG ETF Greenlight