TLDR
- Dogecoin is forming a symmetrical triangle pattern on the 4-hour chart, potentially signaling an upcoming breakout
- A falling wedge breakout has already occurred on the 1-hour chart with RSI bouncing from oversold levels
- Analyst Chris predicts DOGE could reach $1 by late summer 2025 following an expanding rising channel pattern
- Another analyst (Olivier) suggests the uptrend requires breaking above $0.2175 to form a higher high
- DOGE is currently trading around $0.154-$0.1557, with technical patterns suggesting a possible recovery phase
Dogecoin’s price action is showing early signs of a potential recovery phase after weeks of downward momentum. The popular meme cryptocurrency is currently trading at approximately $0.154, with recent chart formations suggesting a possible shift in trend direction according to multiple technical analysts.
DOGE Price
The price has been forming a symmetrical triangle pattern on the 4-hour chart since April 8, as highlighted by crypto analyst Trader Tardigrade. This pattern, characterized by converging trendlines with price gradually narrowing toward an apex, often precedes a strong directional move.
On the 1-hour timeframe, a falling wedge breakout has already materialized. This pattern is typically viewed as a bullish reversal indicator when price breaks above the upper trendline of the wedge.
Adding strength to the bullish case, the Relative Strength Index (RSI) has recently bounced from oversold territory on the 1-hour chart, suggesting growing buying pressure in the short term.
#Dogecoin is forming a prolonged Symmetrical Triangle 🔥
The longer the consolidation within the triangle, the stronger the momentum builds, leading to a higher $DOGE pump 🚀 pic.twitter.com/AB4jtOLmEV— Trader Tardigrade (@TATrader_Alan) April 16, 2025
Long-Term Outlook Remains Positive
Looking at the weekly chart, analyst Chris tracks an expanding rising channel that has guided Dogecoin’s price movement since October 2023, when DOGE bottomed at $0.056. This structure has produced a sequence of higher highs, reaching approximately $0.229 in March 2024 and $0.484 in December 2024.
The latest pullback has retested the channel’s lower boundary at $0.13, where Chris notes the weekly Stochastic-RSI is beginning to curve upward from single-digit territory. The Ichimoku cloud is also turning supportive above the $0.22 price level.
$DOGE to $1 by the end of the summer 2025 anyone? pic.twitter.com/zxUTNA3epx
— Chris (@StonkChris) April 17, 2025
Based on this technical setup, Chris projects a steep trajectory that could potentially drive Dogecoin toward the upper boundary of the expanding channel, which would approach the $1.00-$1.10 range by late summer 2025.
Trading volume, however, remains subdued. At the time of writing, DOGE trading volume stands at $745 million, down 4.7% over 24 hours, even as price has increased by 1.3% during the same period.
Key Price Levels to Watch
For traders tracking Dogecoin’s potential recovery, several key price levels warrant attention according to analyst Olivier, who focuses on the daily chart.
The immediate support sits at $0.1533, very close to current trading levels. Should this level fail to hold, DOGE could revisit the lower boundary of a descending regression channel below $0.13.
To confirm a genuine trend reversal, DOGE would need to break above $0.2175, which would mark an exit from the descending channel and establish the first higher high in months.
$DOGE daily : the uptrend won't resume until it prints un new higher low 👇 pic.twitter.com/Zc9HyObSel
— Olivier Ð Ma𝕏imus (@Dark64) April 16, 2025
Further resistance levels include $0.229 (the local high from March 2024), followed by $0.3496, which served as key support from December last year until January this year. The December high at $0.4361 and the year-to-date high at $0.484 represent additional upside targets.
“The uptrend won’t resume until it prints a new higher low,” Olivier stated, adding that if price breaks the last low, further downside can be expected.
While these technical patterns suggest a potential recovery, confirmation is still needed. For the symmetrical triangle to confirm a bullish outlook, price must break above the upper boundary with strong closing price action and increased volume.
The falling wedge breakout hasn’t yet been accompanied by a surge in trading volume, though price has increased by a few percentage points.
Dogecoin’s current price action follows a bearish trend that has persisted for approximately six weeks. A confirmed trend shift would represent a change to bullish momentum, potentially marking the beginning of a sustained rally if volume increases to support the move.
For now, DOGE continues to consolidate as traders wait for stronger confirmation signals before committing to either direction.
