Analyst sets Dogecoin’s price for October

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.

TradingShot**TradingViewDOGE price analysis chart. Source: TradingView**DOGE price analysis chart. Source: TradingViewThe 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

TradingShot’sIf Dogecoin closes a daily candle above the channel’s upper boundary, it could surge over 100% to $0.41

Conversely, a drop below the 1D MA100 would signal a bearish reversal, potentially pushing it down to $0.17, reflecting past declines of about 45% from channel lows.

DOGE price analysis

By press time, DOGE was trading at $0.23, having corrected by almost 0.5% in the last 24 hours. On the weekly timeframe, the meme cryptocurrency has plunged almost 5%.

DOGE seven-day price chart. Source: Finbold**DOGE seven-day price chart. Source: FinboldMeanwhile, Dogecoin’s technical structure shows neutrality. At the current price, the token’s 50-day simple moving average (SMA) at $0.2351 serves as immediate resistance, signaling short-term consolidation

The 200-day SMA at $0.2088 provides solid long-term support, highlighting an enduring bullish undercurrent as the price remains well above this level, avoiding a death cross and hinting at sustained recovery potential.

Complementing this, the 14-day Relative Strength Index (RSI) of 44.78 indicates neither overbought nor oversold territory, suggesting balanced momentum poised for upside if buying pressure builds to breach the 50-day SMA.

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