• Dogecoin price pattern has transformed into a symmetrical triangle. 
  • IOMAP data does show some resistance just above current price.
  • A reminder, DOGE is not a token powering a fundamental network like ETH.

Dogecoin price fever is set to continue as the popular cryptocurrency forms a symmetrical triangle pattern on the intra-day charts. A couple more oscillations may be necessary to complete the continuation pattern, but DOGE is readying to print new highs later this week.

Dogecoin price may need more social media tricks to propel it higher

On a bearish note, the latest Intotheblock In/Out of the Money Around Price (IOMAP) data does show a wall of resistance between $0.3426 and $0.3522, where 63.57k addresses bought $9.4 billion DOGE. Meanwhile, the data shows little support down to the 50 four-hour simple moving average (SMA).

The IOMAP data suggests that the upside will be contained to the mid-point of the pattern in the short term, and there could be another test of the triangle’s lower trend line before price resumes higher.



Until yesterday, Dogecoin price was forming a clear cup-with-handle pattern on the intra-day charts, and the altcoin appeared primed to break out into new highs. However, the pattern has now evolved into a symmetrical triangle pattern with a measured move potential of 50% from the triangle’s upper trend line and a 100% gain from the current price. The measured move equals a price of $0.6294.

Some earlier resistance may occur at the 127.2% Fibonacci extension of the weekend crash at $0.5461. If DOGE discards with $0.6294, speculators need to look to the 161.8% extension at $0.6910 as a new profit target.

DOGE/USD 4-hour chart

DOGE/USD 4-hour chart

Dogecoin price moves are often sudden, so it is crucial to monitor intra-day movements. A decline below $0.2699 will void the current triangle and raise the probability of a test of $0.2298. Significant losses await a failure at the April 17 low.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Cryptos feed

Latest Crypto News

Latest Crypto News & Analysis

Editors’ Picks

BTC struggles, while ETH dominates and XRP pursues $2

Bitcoin price having trouble shaking the magnet effect of a critical intermediate-term moving average, despite broader strength in the cryptocurrency market.

More Crypto News

Dogecoin price targets $1 as the chase for high-yielding cryptos accelerates

Dogecoin price strength combined with the complementary volume highlights the continued fascination in the digital token, portending further gains in the days ahead.

More Dogecoin News

SXP rally interrupted raising the probability of 20% decline

Swipe price action in May has been counter-productive for a bullish outlook, as three failed attempts above the August 2020 high have forged a head-and-shoulders top pattern that projects a noteworthy decline in the coming days.

More Swipe News

ETC looks primed to retrace following 260% rally

Ethereum Classic price displays a lack of bullish momentum as it consolidates below $96.94. A 15% pullback to the immediate demand zone that ranges from $72.23 to $79.37 seems likely. ETC will face a make-or-break point around this support barrier.

More Ethereum News


Bitcoin Weekly Forecast: Markets revert to mean, but BTC price remains indecisive

Bitcoin price shows considerable strength after springing from the recent crashes. Still, it is uncertain whether the current bullish impulse will morph into a new uptrend or lead to a more profound decline.

Read the weekly forecast