Dogecoin Tests Triangle Support, Outlines Recovery Targets and Selling Points

Dogecoin (DOGE) is at a critical point, testing the lower boundary of a long-term triangle pattern. This could dictate its next major price direction.

Key Points from Recent Analysis

Dogecoin is currently testing a crucial support level around $0.135 within a descending triangle pattern, which influences its potential recovery.
This support area offers a favorable risk-reward profile, with buyers trying to maintain the bullish scenario by preventing a breakdown.
The pattern shows a series of lower highs pressing against stable support, suggesting an imminent decisive move.
Trading volume remains muted, indicating market participants are waiting for confirmation before a significant upward move.
If Dogecoin rebounds from $0.135, recovery targets include $0.155 and $0.190, signaling potential momentum growth.
Further upside levels are projected at $0.250, $0.310, $0.370, and possibly up to $0.470.

Resistance and Profit-Taking Levels

The $0.47 resistance zone is identified as a point where sellers may be active again, making it strategic for profit-taking rather than new entries.
Despite a 22% year-to-date decline, there is optimism for DOGE's recovery, with potential improvement by 2026.

Dogecoin Chart