Dogecoin (DOGE) is showing signs of maintaining an important upward trend line that has acted as support since October 2024.
According to recent analysis by @ali_charts, a pullback to $0.14 could present an important accumulation opportunity before a potential breakout.
The weekly chart highlights a clear technical structure, with DOGE currently trading around $0.17, just slightly above the Fibonacci retracement of 0.5.
If this support level holds, the chart shows a potential rebound targeting the Fibonacci level of 0.786 at $0.30, which also aligns with previous resistance zones.
The trend line, extending from DOGE's breakout in late 2023, has successfully cushioned previous retracements. A recovery from this area, combined with improved sentiment in meme coins and altcoins, could mark the beginning of a higher price rally.
However, if it cannot hold above this trend line, it may invalidate the setup and cause DOGE to continue to decline to the $0.13–$0.12 level.
