Dogecoin has steadenly kept above $ 0.22 since 20 May and climbed back after a short dip. It reached $ 0.25 on May 23 and then went on weekends. In the last 24 hours, token has risen by 4.1%. More than a week it is 5%higher, even though the midweek has slipped.
The triangular pattern
According to HandelView analyst Akbar Karimzsfeh, Dogecoin Has followed a long, tightening of triangle since the all times of $ 0.73536 on 3 May 2021. That peak was followed by a drop to $ 0.048 on 13 June 2022. Since then, every attempt to break down 5 June 14 and 9 October of 2023 has failed. The lines of the triangle come after. When they meet, a sharp movement is probably.
Main resistance levels
Based on factsThe top trend line of the triangle also corresponds to the top of a large “cup” pattern around $ 0.4916. There was an attempt at outbreak in December 2024, and the prices almost reached $ 0.4916, but were pushed back. Then, Doo Geted to $ 0.13. Since then it has found some terrain, but it still has to be that $ 0.4916 release obstacle before Bulls can claim real control.
Recent price movements
Dogecoin floated around $ 0.22 between May 20 and May 26. It peaked on May 23 at $ 0.25, to slide afterwards. Then the last 24-hour profit of 4.1% showed that it can bounce from the support. Buy the 5% weekly turnout points to steadily, even with a few pullbacks in the middle of the week. Traders look at a daily near $ 0.50 as a sign that the long squeeze is over.
Chain statistics rise
Data on chains make a backup of the price promotion. New addresses have risen by 102.40% in the last seven days. Active addresses climbed 111.32%. Zero balance addresses amounted to 155.45%. That suggests that more people send small amounts of doge or test the network. It does not guarantee that they hold on in the long term, but it marks a higher interest and activity.
If Dogecoin can break above the upper trend line and can be submitted above $ 0.49, some see a movement to $ 3.08. That goal is based on adding the height of the triangle to the Breakout point. It’s a big leap. Psychology and trading costs can delay that run. But the pattern says that there can be a strong move.
Based on reports, caution is still wise. Wait for clear confirmation before gambling on a Moonshot. A slip under the lower trend line near $ 0.05 would make the image Bearish. For the time being Dogecoin is in the balance and is being pressed between two important trend lines. Traders and fans will look every close to $ 0.49 or fall below $ 0.05 to gauge the next big move.
Featured image of Gemini Imagen, Graph of TradingView