Dogecoin Buy Signal Detected — Is a Breakout Coming?
Dogecoin (DOGE) is testing an important price zone. On the weekly chart, it’s entering the Bull Market Support Band (around $0.19–$0.21). This area helps traders figure out if an uptrend is strong or about to fail.
This week’s candle shows:
Open: $0.24076
High: $0.24860
Low: $0.18855
Close: $0.19945
That’s about a 17% drop, but there are still hours left in the session.
Here’s what’s happening:
1. DOGE recently broke above a long-term downward trendline (July 16).
2. Price is now “back-testing” that trendline and the support band at the same time.
Some analysts say this pullback isn’t a breakdown—it’s a healthy retest. If DOGE holds above this range, bulls could stay in control.
Traders are watching for:
Price stability
Slowing downward momentum
A quick bounce above the middle of the support band
If these happen, it could confirm the breakout.
One analyst, Cantonese Cat, sums it up: “Great risk-reward here,” meaning the potential upside could outweigh the risk if support holds.
Still, DOGE is volatile, and this week is key for confirming whether momentum continues.
