Dogecoin Price Faces Critical Breakout or Breakdown Scenario

Dogecoin is at a pivotal point for potential breakout, requiring sustained momentum. Key observations include:

Price has been in a falling-wedge pattern since hitting a local high of $0.25941 on May 13.
Current price range is between $0.21187 and $0.21676, closing at $0.21532 on May 17.
The Ichimoku system indicates tight resistance and support levels around $0.212–$0.214 and $0.225 respectively.
A decisive breach above $0.225 could signal a bullish move towards the May 13 high.
On a weekly scale, Dogecoin closed above the Bull Market Support Band for the first time since February, indicating potential for further gains.
Last week’s close was at $0.22387, above crucial resistance levels, converting them into support.
Consecutive weekly closes above $0.22378 may attract trend-followers targeting mid-$0.30s.
Short-term traders are focused on the descending wedge resolution; a breakout above $0.219 shifts focus to previous supply zones ($0.24–$0.26).
A failure to hold $0.205 risks dropping towards the April pivot at $0.185.

Current DOGE price stands at $0.217.