Dogecoin Price Eyes Reversal Amid THIS Bullish Pattern Forming?

Dogecoin (DOGE) price shows early signs of a potential trend shift as an inverse Head and Shoulders (H&S) pattern forms on the 4-hour chart. The market formation represents a bullish sign that could serve as a finishing point to the ongoing negative price trend.

Despite seller control of the market, most technical resistance thresholds have not been penetrated. Keep on reading to learn whether DOGE can make a successful attempt for a reversal.

Inverse Head and Shoulders on H4 in Play

An inverse head and shoulders pattern was developed on the 4-hour chart, with the neckline at $0.1710. The setup shows the left, head, and right shoulder formed, indicating a potential bullish reversal if the neckline is broken.

The initial breakout point above $0.1610 might create a path that would extend to $0.1675 during the short term. That pattern follows an estimated course in which it potentially needs to return to test the neckline before advancing.

Market traders should monitor trading volumes because weak breakaway activity could create a failure to breach resistance.

When the pattern is confirmed, the breakout target above $0.1830 remains a possibility. The resistance zones with significant buying pressure and consistent momentum will determine whether Dogecoin price succeeds in overcoming them to achieve its goals.

Concurrently, the Moving Average Convergence Divergence (MACD) Relative Strength Index (RSI) has formed like the previous bullish recoveries. This trend occurs after a period of consolidation, which is what DOGE’s price has undergone, especially with the uncertainty around the Donald Trump tariffs.

That trend aligns with an earlier analysis by The Coin Republic team, which forecasts that Dogecoin’s price is nearing a 300% surge from current levels.

Whales Accumulate Over 800 Million Dogecoin as Price Holds Near Key Levels

Wallets with balances over 1 billion DOGE acquired more than 800 million DOGE tokens from April 6 to April 14. Large investors built up their holdings when DOGE rose from $0.131 to $0.169, indicating their positive outlook on the market in this recovery period.

Whale wallets maintained their investing stance after the price dip on April 13–14 because they displayed powerful market conviction. Investors’ long-term outlook becomes more apparent when large wallets maintain positions throughout a price reduction phase.

The total DOGE supply held by whales expanded from 71.29 billion to 72.38 billion during a period of one week and ten days. Dogecoin will gain new momentum soon, assuming retail market involvement and technical indicators create positive price movement.

Dual Resistance at $0.1676–$0.1696 Rejected Hard

DOGE price has faced consistent rejections at the $0.1676–$0.1696 resistance range over the past week. Previous attempts at breaking this area consistently failed, except, most recently, triggered a 5.68% price drop.

Numerous failed price attempts validate the strength of this resistance zone. It currently functions as the primary obstacle to any short-term bullish movement. Price action demonstrates that multiple downward price movements from this range have made it more significant.

A DOGE price rise above $0.1609, then $0.1665 cannot push through resistance at $0.1676-$0.1696 unless there is strong buying pressure with sustainable volume. Momentum failure at this point would result in another stoppage of any approaching attempts.

According to Agent Wyckx, a breakout that confirms above $0.1700 would allow DOGE to reach the $0.1720 and $0.1800 price levels.

The upper limit of $0.1700 constrains buyers in their trading activities. It puts Dogecoin at risk of returning to support ranges between $0.1540 and $0.1500 until bullish momentum strengthens.