- Dogecoin price squeeze confirms the end of the downtrend.
- Indeed, a larger cup-completion cart pattern is forming.
- Patience will be rewarded as the pattern’s handle forms.
Dogecoin price finds support at near the 23 twelve-hour simple moving average. Price action is corrective, and volume has significantly declined during the pullback.
Dogecoin price squeeze generates a 28% gain
A squeeze play emerges when the Bollinger Bands (BB) collapse inside the Keltner Bands. It alerts the trader that the price of an asset has compressed about as much as it can and is ready for an explosive move in either direction. Traders can implement squeeze plays on any chart duration.
On the 12-hour chart below, DOGE price squeeze play was triggered on March 5 when the lower Bollinger Band moved inside the Kelter Band. Dogecoin price gained almost 28% before finding resistance just below the .50 retracement level at $.0645
DOGE/USD 12-hour chart
DOGE defining a cup-completion
A cup-completion cheat pattern develops when the handle of the cup forms in the lower half of a cup base. It is a high probability opportunity for a trader to enter the emerging chart pattern at an earlier price level, rather than waiting for the price to shape an entire cup-with-handle base.
Following the sharp 28% gain, Dogecoin price action has been corrective, with support being framed above the 23 twelve-hour simple moving average. During the pullback, the volume has progressively declined as it should do during a healthy correction.
The projection now is for Dogecoin price to complete a handle in the coming days and breakout above the $.0636 price level to confirm the pattern.
Post-breakout profit targets for DOGE price are the .618 retracement level at $.070 followed by the .786 retracement level at $.078. The Relative Strength Index (RSI) shows that the overbought condition has been released.
DOGE/USD 12-hour chart
The explicit support area is framed by the 23 12-hour simple moving average and the February 23 rising trendline at $0.052. A secondary support level is the price congestion going back to the February 15 low at $.0472.
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. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks

Bitcoin recovers above $98,000 as Eric Trump encourages WLFI to add BTC
Bitcoin price recovers slightly, trading above $98,000 at the time of writing on Thursday after losing nearly 5% in the last two days. Eric Trump encouraged the addition of BTC to their family-backed crypto platform WLFI portfolio, which may be supporting Bitcoin’s recovery.

Bonk Price Forecast: 2.02 trillion BONK coins will be burn
Bonk price recovers slightly on Thursday after falling over 5% so far this week. BONK announces it will burn 2.02 trillion tokens to celebrate the BONKdragon event and the 2025 Lunar New Year.

Can XRP bounce back? SEC actions may favor Ripple in ongoing appeal
XRP is down 3% in the early hours of Thursday as crypto community members anticipate that the Securities and Exchange Commission's (SEC) appeal of the ruling in its case with Ripple will likely not stand following latest developments under the new administration.

Dogecoin price flashes death cross signal as Elon Musk grills US Treasury
Dogecoin price stabilized around the $0.26 level on Wednesday amid a 22% weekly decline as crypto markets tumbled further. Elon Musk’s latest ‘DOGE’ tweets amid an ongoing face-off with the US Treasury have sparked testy market reactions.

Bitcoin: BTC in positive tone ahead of third highest-returning month
Bitcoin (BTC) price hovers around $104,000 on Friday after bouncing off its 50-day Exponential Moving Average earlier this week. A K33 Research explains how Nvidia’s big drop in stock valuation this week, driven by DeepSeek, affected Bitcoin’s price.

The Best Brokers of the Year
SPONSORED Explore top-quality choices worldwide and locally. Compare key features like spreads, leverage, and platforms. Find the right broker for your needs, whether trading CFDs, Forex pairs like EUR/USD, or commodities like Gold.