On the daily timeframe, $DOGE has had quite the rollercoaster ride lately. Let’s break down what’s happening on the Binance chart and what key levels traders are watching right now.
🔻 The Sell-Off and Key Support Zone
On October 10th, DOGE saw a sharp sell-off, crashing down to around $0.10. That move broke below the April low on Binance — not great for short-term structure.
However, the Coinbase chart actually never broke the April low, which makes things interesting. Structurally, both charts tell a slightly different story, but the key takeaway is that DOGE still has potential to hold its long-term diagonal pattern that’s been unfolding since June 2022.
🧠 Elliott Wave View – Still a Possible Ending Diagonal
We can still consider the current structure as an ending diagonal, which is a five-wave move upward.
Wave i: Up from June 2022 → October 2022
Wave ii: Pullback into June 2023
Wave iii: abc move up
Wave iv: correction
Wave v: Potential upcoming move
To keep this pattern valid, $DOGE must hold above $0.115 and ideally stay above the shorter-term $0.181–$0.186 support zone.
📈 Key Levels to Watch
Here’s what matters most right now:
Short-Term Support:
$0.181 → $0.186 (market reacted here recently)
$0.175 → invalidation point for a bullish setup
Major Support:
$0.115 (must hold for long-term bullish structure)
Resistance Levels:
$0.22 → First major breakout confirmation
$0.272 → next resistance
$0.305 → critical zone to confirm a strong recovery
⏳ The Market Is Coiling Up
Right now, DOGE is trading inside a triangle, and price action is tightening near the apex. That means a big move could be coming soon, possibly around the weekly candle close.
If DOGE breaks above the upper trendline, the first target remains $0.22 — don’t underestimate this level. Above it, momentum could quickly shift bullish.
💡 My Take
While the lower timeframes look messy, the market is showing more signs of strength to the upside than weakness. A direct breakout scenario (orange count) is possible — as long as we stay above $0.181.
A break below $0.175 opens the door to $0.16 → $0.145, but for now, $DOGE still has room to build up bullish energy.
