The price trend of Dogecoin (Doge) has garnered widespread attention, recently showing bullish potential. According to historical patterns, the Doge price may break through resistance after forming a symmetrical triangle, signaling a move towards the $5 target. The current price is about $0.1925, with expectations to break through the $0.203 resistance in the short term, driving the price upward. Technical data indicates that the key support level is $0.194, and the breakout structure points to an upward trend, with sustained market support being crucial to achieving this goal.
Interest in Dogecoin (Doge) prices is rising as it forms certain patterns that imply a possible bullish trend. If the market remains consistent, the recent movements and historical patterns suggest that the price of Doge could rise to $5.
Dogecoin price historical pattern repeats signal upward potential
It is noteworthy that the candlestick chart shared by CryptoElites indicates that the pattern of Dogecoin price increases has repeated over time. Each cycle begins with the formation of a symmetrical triangle, followed by a steep vertical bounce.
According to the candlestick chart, three such events have played out, and the latest structure is forming at a higher price range.
Furthermore, the triangular pattern indicates that once the resistance level breaks, it could lead to a significant upward move for Dogecoin price during the consolidation period. This frequently occurring structure provides Doge with a potential roadmap, suggesting that if the current consolidation breaks in the same manner, another leg could follow.
The expected level on this candlestick chart sets the long-term target at $5, well above the current market price.
Doge bullish structure forms on Heikin Ashi H4 chart
Moreover, in Trader Tardigrade's separate 4-hour Heikin Ashi chart, a second triangle is evident after the earlier triangle breakout. There are clear signs that as both support and resistance levels narrow, there is consolidation in the price structure.
Typically, this pattern occurs before a trend change, in a period of strong bullish momentum and low volatility.
As Dogecoin's price declines, it may be ready to break through its short-term resistance. If the upper edge of the triangle is exceeded, the asset could surge to $0.203. Prices above the active upward trend line are at $0.194, confirming the validity of this structure.
Doge Price triangle retests support breakout structure
On the lower time frame, Trader Tardigrade pointed out that Dogecoin's price successfully retested the symmetrical triangle pattern. Before the breakout occurred, this formation had multiple touches on both the support and resistance lines. After the breakout, the price returned to the upper boundary of the triangle and bounced, confirming it as a new support area.
The completed retest volume is around $0.191, which now serves as the structural basis for the current bullish outlook. Technical setups including retests often validate the strength of breakouts, as they indicate previous resistance levels have turned into support.
This pattern strengthens the possibility of an upward move in the short term, extending to the resistance range of $0.20-$0.203.
Short-term and long-term goals align with candlestick chart signals
Additionally, candlestick charts from various sources suggest that Doge's price may rise both now and in the coming months. In the short term, traders aim to overcome the resistance near $0.203. Maintaining an upward trend at this level could propel the meme coin to previous highs and increase upward pressure towards $5.
At the same time, the long-term outlook derived from historical breakout patterns positions $5 as a potential macro target. Although this scenario requires sustained market support and broader adoption, the repetitive nature of these breakout structures provides a technical basis for this speculation. Future price fluctuations near key resistance levels will provide further confirmation of trend direction.
At the time of writing, Dogecoin's trading price is approximately $0.1925, reflecting a 2.4% increase over the past 24 hours. This indicates a bullish trend, with key support set at $0.194 and resistance at $0.198-$0.200.
