Two prominent cryptocurrency analysts have identified technical patterns suggesting Dogecoin (DOGE) stands on the verge of a significant price movement. Ali Martinez and an analyst known as CW have independently published charts highlighting breakout formations that could end weeks of constrained trading.
Martinez, posting under the handle @ali_charts on X, presented an hourly chart showing Dogecoin trapped within a symmetrical triangle pattern. His analysis indicates DOGE experienced a sharp 16.46% decline from approximately $0.18 to just above $0.14 before establishing a series of progressively higher lows.
"Dogecoin will break out! A close outside $0.16-$0.18 could trigger a 16% price move," Martinez wrote on the social platform.
The symmetrical triangle Martinez identified features an upper boundary near $0.18 with a lower support line extending upward from roughly $0.144. This formation has contained Dogecoin's price action within the $0.16-$0.18 corridor for over a week. Technical trading theory suggests a decisive hourly close above this range could release accumulated buying pressure, potentially catalyzing the projected 16% upswing from the breakout point.
Analyst CW (@CW8900) offers a longer-term perspective, publishing a daily chart that reveals what he interprets as a falling wedge pattern dating back to December 2024. During that period, DOGE briefly touched $0.48 before entering an extended downtrend. Falling wedge formations typically feature converging trendlines with lower highs and lower lows.
CW notes that Dogecoin crossed above the wedge's descending resistance line yesterday. This development is widely regarded as a bullish reversal signal if subsequent price action confirms the breakout by maintaining positions above the resistance line.
The daily chart analysis relies heavily on Fibonacci retracement levels calculated from Dogecoin's most recent significant rally. CW identifies key Fibonacci thresholds at $0.2027 (0.236 retracement), $0.2564 (0.382), $0.2999 (0.5), $0.3433 (0.618), $0.40513 (0.786), and $0.4839 (1.0).
These mathematically derived levels frequently function as support or resistance zones in trending markets. CW suggests that having escaped its descending wedge, Dogecoin could potentially climb through these retracement levels sequentially, contingent upon favorable broader market conditions.
The most ambitious target in CW's analysis sits at the 1.618 Fibonacci extension level, which would place Dogecoin at approximately $0.71—over four times its current trading price. Dogecoin traded at $0.1691 at the time of writing.