- DOGE retests triangle apex at $0.177, forming a key structural base for potential breakout.
- RSI shows higher low as volume surges 150%, signaling possible bullish divergence on charts.
- DOGE tests 0.618 Fib level; analysts cite it as a ‘high confluence bounce zone’ amid $2B volume.
Dogecoin (DOGE) has returned to a key structural point after closing its daily candle and moving directly onto the apex of a previously formed symmetrical triangle. This technical setup has captured market attention as it may define the next directional move for the meme-based cryptocurrency. Traders are watching closely for a possible breakout or breakdown as price action tightens.
Triangle Retest Reinforces Pattern Structure
According to analysis prepared by Trader Tardigrade via X, Dogecoin completed a successful retest of the upper boundary of a symmetrical triangle pattern. The pattern formed with multiple touches on both the resistance and support lines before DOGE broke out.
The recent decline has brought the price back to the triangle’s apex, currently around $0.177. Tardigrade noted that “this area represents a structural foundation,” as the price is now testing a confluence zone with strong historical relevance.
Another post also showed DOGE forming a higher low on the RSI, suggesting a potential bullish divergence. If confirmed, this setup may signal reduced selling pressure and allow a new uptrend to develop.
Volume Surge and Historical Patterns Support Bullish Outlook
CryptoElites also shared a historical Dogecoin chart showing repeated symmetrical triangle formations that previously led to sharp price increases. Each cycle followed a similar pattern of consolidation and breakout, often with a vertical rally.
The current formation is appearing at a higher price level, and the projected long-term target remains $5. CoinMarketCap data shows that trading volume for Dogecoin rose over 150% in the last 24 hours, totaling over $2 billion. Some analysts suggest this could indicate institutional repositioning amid high volatility.
According to BitMonty via X, DOGE is also testing the 0.618 Fibonacci level, calling it a “high confluence bounce zone.” At press time, Dogecoin trades at $0.1779, reflecting a 6.05% intraday decline while maintaining technical interest near key levels.
