A major move may be on the horizon for Dogecoin (DOGE), as a six-month bullish reversal pattern nears completion. According to a technical analysis shared by Bitcoinsensus on X, DOGE is on the verge of a breakout that could unfold within the next seven days.
Descending Trendline Nears Breaking Point
Since DOGE’s rally last October, the price has followed a broad descending trendline, capping key highs: $0.48 in December, $0.43 in mid-January, and $0.26 just 10 days ago. That trendline is now just a few percentage points above the current price, bringing DOGE close to a potential breakout.
Inverted Head-and-Shoulders Signals Reversal
Within this larger downtrend, Bitcoinsensus highlights a textbook inverted head-and-shoulders formation:
Left shoulder: ~$0.142 in mid-March
Head: ~$0.141 in early April
Right shoulder: ~$0.164 in early May
Neckline: Sloping slightly downward, crossing around $0.185
$DOGE broke above this neckline on May 8, meeting the technical criteria for a confirmed breakout. Since then, the price has pulled back in what the analyst describes as a “healthy” retracement — turning former resistance into support.
Retest Before Liftoff?
The projected path shows one final dip toward the descending trendline around $0.23–$0.24 before DOGE reverses higher. Bitcoinsensus expects this retest and breakout to play out within the next seven days.
> “Dogecoin has been slightly pulling back in a very healthy manner, preparing for the next major breakout,” the analyst notes. “The anticipated breakout is expected to happen within the next 7 days, with a retest of the trendline for confirmation.”
Next Target: $0.42–$0.43 Supply Zone
If the trendline breaks, the next major resistance lies between $0.42–$0.43 — a key supply zone that matches January’s consolidation range. A strong daily close above this zone would mark DOGE’s first major higher high since November, possibly signaling a broader trend reversal.
Invalidation Level: $0.185
The breakout thesis would be invalidated if DOGE drops back below the neckline at $0.185, exposing the March and April lows. Until then, the technical outlook remains bullish.
At the time of writing, $DOGE is trading at $0.221.
