Lorenzo Stroe
Independent Analyst
- Dogecoin price is contained inside a descending triangle pattern on the 4-hour chart.
- One key resistance level separates DOGE from massive breakout.
- The digital asset has been trading sideways for the past two days.
Dogecoin price has been trading sideways for the past two days and inside a downtrend since its new all-time high of $0.087 on February 7. Now, the favorite canine-cryptocurrency is ready for a new leg up.
Dogecoin price faces critical barrier before a massive breakout
On the 4-hour chart, Dogecoin has established a descending triangle pattern with its critical resistance trendline at $0.052. A breakout above this point should swiftly push Dogecoin price towards $0.07, a 37% move calculated using the height of the pattern as a reference point.
DOGE/USD 4-hour chart
The In/Out of the Money Around Price (IOMAP) chart shows steep resistance ahead above $0.052. The strongest resistance barrier is located between $0.052 and $0.054 which coincides with the outlook above adding credence to the bullish view.
DOGE IOMAP chart
However, on the way down, the IOMAP model shows weak support. The most significant range is located between $0.05 and $0.049 which means that a breakdown below this point would drive Dogecoin price down to $0.044.
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
Dogecoin surges to $0.20 as meme coins outperform broader crypto market
Dogecoin (DOGE) is rising alongside other major cryptocurrencies to trade at around $0.1990 on Friday. Interest in the largest meme coin is at an elevated level, approaching the highs seen in May, when DOGE rallied to $0.2597.
Crypto Today: Bitcoin explodes toward $120,000, igniting interest in Ethereum and XRP
The cryptocurrency market is beaming with anticipation of an extended rally, particularly in the price of Bitcoin (BTC), which has skyrocketed this week, hitting a new historical high of $118,870 on Friday.
Bitcoin Weekly Forecast: BTC hits new all-time high and enters price discovery mode
Bitcoin price prints a fresh all-time high near $118,900 on Friday, with bulls eyeing $120,000 as the next key milestone. Corporate and institutional demand remains robust, with spot Bitcoin ETFs recording a total of $1.69 billion this week as of Thursday.
Ethena records double-digit gains amid Upbit listing, Coinbase partnership
Ethena (ENA) edges higher by 20% at press time on Friday, printing its fourth consecutive bullish day. The surge in buying pressure could be triggered by the increased volumes from the Korean market after the Upbit listing on Friday.
Bitcoin: BTC hits new all-time high and enters price discovery mode
Bitcoin (BTC) price prints a new all-time high near $118,900 on Friday, entering uncharted territory as bullish momentum accelerates.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.