Dogecoin (DOGE) is showing signs of holding a critical ascending trendline that has acted as support since October 2024.
According to a recent analysis by @ali_charts, a pullback to the $0.14 level could offer a prime accumulation opportunity before a potential breakout.
The weekly chart highlights a clean technical structure, with DOGE currently trading around $0.17, just above the 0.5 Fibonacci retracement level.
If this support holds, the chart suggests a possible rebound targeting the 0.786 Fibonacci level at $0.30, which also aligns with previous resistance zones.
The trendline, which extends from DOGE’s late-2023 breakout, has successfully cushioned past retracements. A bounce from this zone, combined with improving sentiment across meme coins and altcoins, could mark the start of a bullish leg higher.
However, failure to hold above this trendline may invalidate the setup and expose DOGE to further downside toward the $0.13–0.12 range.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
Source: https://coindoo.com/dogecoin-eyes-bounce-from-key-trendline-0-30-in-sight/