- Dogecoin maintains a steady uptrend within an ascending channel, supported by rising volume and RSI near overbought levels.
- Historical bull flag patterns suggest Dogecoin could surge sharply, targeting $0.95 if current momentum holds.
- Support near $0.24 remains firm, while volume and tight spreads signal strong market interest and liquidity.
Dogecoin is holding firm within an ascending channel as technical patterns and volume trends align. Analysts are closely monitoring this setup for signs of a potential surge beyond key resistance levels.
Price Holds Strong Inside Ascending Channel Formation
The latest 4-hour Dogecoin chart reveals a consistent structure of higher highs and higher lows. Price action has stayed within two parallel trend lines while maintaining support during recent pullbacks. Volume has hovered around 265 million DOGE, showing continued interest without excessive volatility.
Bluntz, a noted chart analyst, referred to this setup as a classic “dalai lama” breakout structure. This label followed a 2.31% jump in the most recent candle, which closed at $0.25125. Bluntz pointed out that Dogecoin rallied from below $0.18, forming a steep climb by May 9.
Source: X
Volume spikes have supported this move, with RSI hitting 71.78, just inside traditional overbought territory. Another RSI reading at 61.14 reflected earlier conditions, helping traders track trend continuation. Market watchers noted tight spreads between buy and sell levels near $0.25115, signaling high liquidity.
Repeated Patterns Suggest Sharp Upside Potential
Daily timeframe analysis shows Dogecoin repeatedly forming downward channels followed by aggressive upside breakouts. Each cycle begins with consolidation and ends in a near-vertical price climb, revealing a clear historical rhythm. Market analysts believe this consistency could set the stage for another large upward move.
Bitcoinsensus shared a comparative study of four major bull flag formations from late 2023 to 2025. Previous flags delivered gains of +90%, +215%, and +440% as DOGE reversed from descending patterns. The fourth channel, now forming, shows a similar structure and spacing, with a price target of $0.95.
Source: X
Current price levels near $0.24453 align with upper resistance inside the latest flagged channel. Long-term trendlines extend through mid-2025, suggesting alignment with previous breakout intervals. Observers remain focused on these repeatable formations as potential indicators of upcoming price action.
Support Zones and Volume Levels Reinforce Market Confidence
Volume patterns mirror past breakouts, rising moderately without triggering erratic price changes. RSI remains elevated yet controlled, giving bulls room to extend momentum before correction. Support around $0.24 continues to hold, offering a base for further attempts to test upper levels.
Analysts remain attentive to the balance between volume and resistance within this trend channel. DOGE’s chart structure favors a bullish continuation if current technical signals stay intact. Traders are closely watching the next moves for confirmation of a breakout toward projected highs.
