Dogecoin (DOGE) The price is testing the lower border of the long-term triangle pattern, a move that could determine the next major price trend. New technical analysis highlights a roadmap containing key recovery levels and identifies a potential time frame when selling and profit taking becomes appropriate.
Dogecoin triangle pattern signals recovery path
In a recent X post, cryptocurrency analyst Jonathan Carter foot A new analysis of Dogecoin’s price movement predicts just that A potential recovery may be imminent. Carter explained that Dogecoin is currently testing an important support area around $0.135 in the long term Descending triangle chart structure. The setup unfolds on the 3-day time frame, with price action remaining above the lower border of the pattern. This area has become a major battleground between buyers and sellers.
Related reading
Carter highlights that a persistent support zone provides a favorable risk-reward profile for market participants. Buyers who intervene at this level are trying to prevent a collapse that could invalidate broader recovery expectations. This means Holding above this support area It could keep the bullish scenario for Dogecoin intact.
A visible descending triangle appears on the analyst’s common chart A series of lower highs Pressure on the stable support area at $0.135. This pressure is often preceded by a decisive move once the price reacts strongly at the base. The current structure of Dogecoin also indicates that the market is steadily approaching this inflection point.
The volume data at the bottom of the chart did not show a strong expansion near the support area. This indicates that Trading activity in Dogecoin has been relatively quietWhich suggests that the market may be waiting for confirmation before committing to a major upward move.
If Dogecoin successfully rebounds from the $0.135 support area, the Carter chart delineates several upside levels to watch. Initial recovery targets are seen around $0.155 and $0.190, where previous price reactions occurred. Crossing these levels would indicate increasing momentum and a possible price finish DOGE downtrend.
Additional bullish extensions expected on the chart include $0.250 and $0.310, which are in line with previous consolidation areas. A stronger continuation could open the way towards $0.370 and eventually the resistance area near $0.470.
The resistance zone reveals when DOGE will be sold off
Carter’s Dogecoin chart clearly shows the $0.47 resistance area, where sellers are expected to become active again. The rise in the region is likely to face an increase Selling pressure Based on historical price behavior. As a result, the resistance zone acts as… Strategic level of profit taking Instead of new entries into Dogecoin.
Related reading
Overall, Carter’s analysis suggests that Dogecoin price is at a pivotal technical level that could constitute its next major move. The price of the meme coin is currently lowhaving collapsed more than 22% year-to-date, according to CoinMarketCap. Despite this slide, Carter remains optimistic about DOGE’s recovery path. The recovery timeline highlighted in the analysis suggests that by 2026, the meme coin may have emerged from the downturn.
Featured image from Unsplash, chart from TradingView
