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Dogecoin’s price action is beginning to tell a quiet but compelling story, as key structural signals align to supporta potential move higher. While the meme coin has stayed under the radar recently, a closer look at its chart reveals a foundation of gradually rising lows and well-respected support levels, which are classic traits of an asset quietly building strength.
This setupsuggests that Dogecoin may be forming a base for a larger upside move. If confirmed, the path ahead could see DOGE testing higher resistance zones as confidence subtly returns to the market. Ascending Wedge Emerges On DOGE’s 30-Minute Chart
According to a recent analysisshared by Thomas Anderson on X, Dogecoin is currently forming an ascending wedge pattern on the 30-minute chart, a technical setup often associated with potential breakout scenarios. At the time of his post, DOGE was trading around $0.17397, testing the 200-period moving average. Related Reading What Will Send Dogecoin Soaring? Analyst Reveals The Key Drivers 1 day ago
Despite this overhead pressure, the price remains securely above a critical support zone at $0.16424, reinforcing the strength of the current uptrend on this lower timeframe. DOGE eyes breakout from ascending wedge pattern | Source: Thomas Anderson on X
Anderson further emphasized that short-term momentum appears bullish, supported by a steady increase in trading volume, a positive sign that market participants are engaging with the move. However, he issued a note of caution based on broader context: the 1-hour chart shows DOGE is trading near the upper boundary of the pattern .
As the price approaches the pattern’s upper boundary, the potential for rejection and a pullbackgrows. Traders are advised to stay alert and consider both the bullish wedge on the M30 and the larger bearish context on H1, as this confluence might lead to heightened volatility in the near term. Dogecoin Nears Falling Wedge Breakout
In a recent updateshared on X, Whales_Crypto_Trading pointed out that DOGE is trading at the edge of a falling wedge pattern on the daily chart, a technical formation hinting at upcoming bullish reversals. This pattern has been developing over time, showing a gradual narrowing of price swings as DOGE coils within a tightening range. Related Reading Dogecoin (DOGE) Eyes Breakout: Could an Upside Rally Spark Full-On Recovery? 1 week ago
According to Whales_Crypto_Trading, if DOGE successfully breaks out of this wedge, it could unleash a powerful rally in the medium term, pushing prices 80–100% higher. This projection aligns with historical behavior following similar wedge breakouts, where compressed price action leads to explosive moves once resistance is cleared.
The setup highlights a crucial moment for DOGE, with bulls looking for a confirmation signal while bears attempt to maintain downward pressure. A clean breakoutcould shift sentiment decisively, turning this long-standing consolidation into a strong upward trend. DOGE trading at $0.176 on the 1D chart | Source: DOGEUSDT on Tradingview.com Featured image from Getty Images, chart from Tradingview.com