**Triangle Pattern Forms for Dogecoin as Breakout Approaches**
Dogecoin has been trading within a narrow range between $0.15 and $0.16 for several days. On the 4-hour candlestick chart, this price compression has formed a triangle pattern, following a broader downtrend that began in April.
Now in recovery mode, Dogecoin is showing signs of bullish momentum. A recent higher low points to potential upward movement, possibly pushing the price above the triangle’s upper trendline in the coming week.
The price action has shifted noticeably—from a decline in late March and early April to a phase of consolidation over the past two weeks. The triangle on the 4-hour chart reflects a standoff between buyers and sellers: buyers are reluctant to chase higher prices, while sellers aren't pressing lower. This reduced volatility often precedes a breakout in either direction.
As shown in the Dogecoin chart, the price is nearing the triangle’s apex. A 2.77% increase in trading volume over the last 24 hours adds weight to a possible bullish breakout.
Trader Tardigrade noted that Dogecoin is following a typical pattern of uncertainty leading to a decline, then recovery. He anticipates an upward move to erase losses from late March. However, confirmation of this bullish scenario would require a strong candle closing above the triangle’s upper trendline.
If that occurs, Tardigrade forecasts Dogecoin could climb to $0.20 by month’s end. After beginning April at $0.166, a decisive breakout and sustained close above $0.20 would mark a strong finish for the memecoin.
