Dogecoin's Ascending Wedge Pattern Suggests 80-100% Price Surge
1min read Dogecoin’s price movements are indicating a quiet yet compelling narrative, as key structural signals align to support a potential upward trajectory. Despite staying under the radar recently, a closer examination of 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 setup suggests 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.
According to a recent analysis, 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 the analysis, DOGE was trading around $0.17397, testing the 200-period moving average. 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.
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, a note of caution was issued 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 pullback grows. Traders are advised to stay alert and consider both the bullish wedge on the 30-minute chart and the larger bearish context on the 1-hour chart, as this confluence might lead to heightened volatility in the near term.
In a recent update, it was 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. 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 breakout could shift sentiment decisively, turning this long-standing consolidation into a strong upward trend.
