Dogecoin (DOGE) is testing the lower bound of a long-term triangle pattern, which could determine the next major price direction. New technical analysis highlights a roadmap that includes key recovery levels and outlines potential time frames in which selling and profit-taking may be advantageous.
Dogecoin’s triangle pattern suggests recovery path
In a recent post on X, crypto analyst Jonathan Carter said: presented A new analysis of Dogecoin price trends predicts: A potential recovery may be imminent. Carter explained that Dogecoin is currently testing a key support area around $0.135 within an extended trading range. Structure of descending triangle chart. The setup has unfolded over a 3-day time frame and price action remains above the lower bound of the pattern. This zone has become an important battleground between buyers and sellers.
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Carter emphasizes that continued support areas provide a favorable risk-reward profile for market participants. Buyers intervening at this level are trying to head off a collapse that could nullify prospects for a broader recovery. This means stay above this support zone Dogecoin’s bullish scenario may remain intact.
A descending triangle displayed on an analyst’s shared chart indicates that series of lows and highs It is approaching a stable support zone at $0.135. This compression often precedes a decisive move when prices react strongly in the base. Dogecoin’s current structure also suggests that the market is steadily approaching its inflection point.
The volume data at the bottom of the chart does not yet indicate a strong expansion near the support area. This shows that Dogecoin trading activity is relatively calmsuggesting that the market may be waiting for confirmation before committing to a significant move higher.
If Dogecoin successfully rebounds from the $0.135 support zone, Carter’s chart plans for some notable upside levels. The initial recovery target is seen around $0.155 and $0.190, where previous price reactions occurred. Clearing these levels will signal increased momentum and a possible end. DOGE downtrend.
Further upside extensions expected on the chart include $0.250 and $0.310, which is consistent with previous consolidation areas. A stronger continuation could pave the way to $0.370 and eventually reach the resistance zone around $0.470.
Resistance Zone Reveals When to Sell DOGE
Carter’s Dogecoin chart clearly shows a resistance zone at $0.47 where sellers are expected to become active again. Rally into the zone likely to increase further selling pressure Based on past price trends. As a result, the resistance area is Strategic level for profit taking Rather than a new entry to Dogecoin.
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Overall, Carter’s analysis suggests that Dogecoin’s price is at a pivotal technical level that could shape its next big move. Meme coin prices are currently fallingIt has plunged more than 22% since the beginning of the year, according to CoinMarketCap. Despite this setback, Carter remains optimistic about DOGE’s recovery path. The recovery timeline highlighted in the analysis suggests that meme coins could emerge from the doldrums by 2026.
Featured image from Unsplash, chart from TradingView
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