Dogecoin has been less bleeding in recent days, returns to the mid-band of $0.13. Sellers have controlled most of the candles over the past 24 hours and any attempt at a recovery has quickly faded, leaving Dogecoin. stuck at the bottom of a range.
One crypto analyst at X has drawn attention to a key technical level on the 2-day chart. Although the price action appears weak, Dogecoin is now squarely in a long-term support zone within a descending triangle pattern, and this area could become the launching pad for a strong upward move. if buyers respond from here. The chart shared with the analysis shows exactly where Dogecoin rests and why this region matters.
Dogecoin sits on a large descending triangle
Technical analysis of Dogecoin’s price action on the two-day candlestick time chart shows that the meme coin has been trading in a clear descending triangle since December 2024. A downtrend line has capped every rally this year, leading to the creation of a series of lower highs that reflect continued selling pressure throughout the year. At the same time, a horizontal support zone below in the mid-$0.135 to $0.14 range has seen multiple declines and prevent deeper breakdown.
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Dogecoin is currently pushing that lower limit again. The candles on the 2-day chart cluster just above the dotted line, and the analyst, using Butterfly on X, circled this cluster in green to indicate how close the price is to the level.
Each prior visit to this zone has caused at least a temporary revival, which is why the current test is noteworthy. The price action tightens and there is less room left for sideways movement before a decisive breakout occurs.
Dogecoin is “ready to fly”
In the post on The most important thing is that the bottom support holds again, and the descending triangle can turn from a slow grind down into a springboard for a powerful response.
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A strong defense of this zone would mean that sellers no longer have momentum at these prices. From there, even a modest buying spree could propel Dogecoin back to the top falling resistance line that runs through the chart from $0.25 to $0.26. A break and close above that trendline would mark the first clean higher high in months and confirm that the triangle has moved upward.
The analyst’s green arrow on the chart outlines this potential path. The path shows Dogecoin breaking away from the current support band, rising above resistance and reaching a high of $0.4 in one swift move.
Featured image of Pngtree, chart from Tradingview.com