Dogecoin Surges 17% As Analysts Predict Bullish Breakout

Over the past four days, the price of Dogecoin has surged by more than 17%, approaching bullish territory according to two prominent chart technicians. Rekt Capital and Henry are highlighting a significant technical setup on the Dogecoin price chart, which they believe could lead to a substantial breakout.

Rekt Capital shared a weekly DOGE/USDT chart, emphasizing key price levels at $0.159, $0.204, and most importantly, $0.22. According to the analyst, Dogecoin's future trajectory depends on whether it can reclaim and close above $0.22—a level referred to as the green zone of Pre-Halving highs. Rekt Capital suggests that the recent dip below $0.22 might be a temporary "downside deviation," and if the price stabilizes above $0.22, it could indicate a bullish trend. The candlesticks near $0.20 and $0.22 show notable wicks, suggesting high volatility and a "very volatile retest" of the price region around March highs.

From a technical perspective, the $0.22 area acts as a pivot. If Dogecoin closes a weekly candle above this boundary, it would signal that buyers are regaining control, potentially setting the stage for a move toward higher resistance levels, such as $0.28 and $0.338, as identified by two horizontal green lines on Rekt Capital’s chart.

Meanwhile, analyst Henry points to a multi-month falling wedge formation stretching from late 2024 through the first quarter of 2025. This pattern resembles Dogecoin’s descending wedge in 2024, which led to a breakout and a significant price surge. On Henry’s chart, DOGE had been consolidating between two downward-sloping trendlines for several months. The upper trendline connects lower highs since the coin’s peak above $0.48, while the lower boundary captures a sequence of descending lows. Henry’s analysis draws a parallel between the current wedge and a similar structure that resolved in a 365% surge starting in October 2024. Over the past few days, Dogecoin broke out of the falling wedge pattern again, potentially setting the stage for another steep rise. Although Henry does not guarantee specific targets, he remarks that the last time a similar pattern occurred was in September 2024, with the price reaching 50 cents and then $1.00, concluding with the instruction to "Trust the cycle."

At the time of reporting, DOGE was trading at $0.19583. The analysts' forecasts suggest that if Dogecoin can maintain its momentum and close above the $0.22 level, it could experience a significant price surge, potentially reaching higher resistance levels. The technical indicators and historical patterns analyzed by Rekt Capital and Henry provide a bullish outlook for Dogecoin, with the $0.22 level serving as a critical threshold for future price movements.