As Dogecoin (DOGE)’s price attempts to hold a crucial support level, an 
analyst flagged potentially bullish technical setups that could set the stage 
for a major move in the coming months. Related Reading: BitMine Nears 4.5% 
Ethereum Supply Share Following $238M Buy Dogecoin Historical Setup Targets 
Massive Expansion On Wednesday, Dogecoin continued its sideways trajectory 
between the $0.100-$0.105 local range. The cryptocurrency has been trading 
within this area for the past four days, after recovering from its one-month 
low of $0.097 recorded on Saturday. Amid this performance, market observer 
Trader Tardigrade shared a bullish outlook for the cryptocurrency, analyzing 
DOGE’s chart on multiple timeframes. He pointed out a “textbook” falling wedge 
setup on the daily timeframe, which has been forming since early May. The 
analyst asserted that this pattern is “one of the most reliable bullish 
reversal patterns,” with the breakouts “almost always lead[ing] to explosive 
upside.” Dogecoin has been compressing inside this pattern for a couple of 
weeks, and it’s currently sitting near its apex, while also retesting the 
formation’s upper boundary. Based on this, the analyst suggested that DOGE is 
“coiled and ready” for a breakout and potential rally to at least the May 
highs. Trader Tardigrade also shared the memecoin’s monthly chart, affirming 
that “a massive surge is coming.” He asserted that Dogecoin appears to be 
repeating a setup that has previously led to explosive performances. According 
to the chart, the cryptocurrency is forming a new solid base structure, 
suggesting that a breakout and rally toward new highs could begin in the 
coming months. Notably, this structure previously formed ahead of the 2017 and 
2021 all-time high (ATH) rallies. As the new multi-year base develops, the 
analyst stated that DOGE is in “the best accumulation period, adding that 
“every single time DOGE entered an accumulation zone, it consolidated sideways 
before exploding into a parabolic rally.” He asserted that this pattern has 
appeared in 2015-2017, 2019-2020, 2023-2024, and “always leads to an 
explosion.” DOGE’s Short-Term Fate On The Line In an X post, market watcher 
Ali Martinez affirmed that Dogecoin “looks ready for a deeper price 
correction.” As he noted, the cryptocurrency has been trading between $0.088 
and $0.115 over the past three months, forming a parallel channel. During the 
April-May market rally, the leading memecoin was able to climb from the 
channel’s lower half toward its upper boundary, briefly breaking above this 
crucial resistance in mid-May before retracing. Following the latest 
rejection, the cryptocurrency dropped to the channel’s mid-range around 
$0.102, falling below this level during last week’s pullback. This area aligns 
with the 50-day Simple Moving Average (SMA), which has served as a key support 
during the recent market recovery. Related Reading: Bitcoin At A Crossroads: 
Two Key Levels Will Define BTC’s Next Major Move, Analyst Says Therefore, the 
analyst highlighted the importance of this level, asserting that if it holds, 
investors could expect a rebound toward the top of the channel. On the 
contrary, he warned that if Dogecoin falls below this level, a retest of the 
channel’s lower boundary would be likely. As of this writing, DOGE is trading 
at $0.101, a 2.4% decline in the weekly timeframe. Featured Image from 
Unsplash.com, Chart from TradingView.com

As Dogecoin (DOGE)’s price attempts to hold a crucial support level, an analyst flagged potentially bullish technical setups that could set the stage for a major move in the coming months. Related Reading: BitMine Nears 4.5% Ethereum Supply Share Following $238M Buy Dogecoin Historical Setup Targets Massive Expansion On Wednesday, Dogecoin continued its sideways trajectory &#8230;

Dogecoin Rally Loading? Analyst Eyes ‘Imminent Breakout’ From Textbook Falling Wedge Pattern

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Dogecoin Rally Loading? Analyst Eyes ‘Imminent Breakout’ From Textbook Falling Wedge Pattern

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