Dogecoin was lighter bleeding in recent days, moving back towards the mid-range of $0.13. Sellers controlled most of the candles over the past 24 hours, and any attempted bounce quickly faded, leaving Dogecoin stuck at the bottom of the range.
One crypto analyst on Xu drew attention to an important technical level on the two-day chart. Although the price action looks weak, Dogecoin is now right at the long-term support zone within the descending triangle pattern, and this area could become the launch pad for a strong upward move if customers react from here. The chart shared with the analysis highlights exactly where Dogecoin rests and why this region is important.
Dogecoin sitting on a large descending triangle
Technical analysis Dogecoin price action on the 2-day candle time frame chart shows that meme coin has been trading in a clear descending triangle since December 2024. The descending trend line has halted any gains this year, creating a series of lower highs that reflect continued selling pressure throughout the year. At the same time, the horizontal support zone below in the mid-$0.135 to $0.14 region caught multiple dips and prevented a deeper breakdown.
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Right now, Dogecoin is pushing that lower limit again. The candles on the 2-day chart are grouped right above the dashed support bar, and the analyst, who goes with the butterfly on the X, has circled this group in green to show how close the price is to the level.
Every previous visit to this zone has produced at least a temporary bounce, making the current test significant. Price action tightens and there is less room for sideways movement before a decisive breakout occurs.
Dogecoin is “ready to fly”
In a post on Xu, the analyst notes that this support is “multiple respected” and that the bulls are “preparing to pounce.” Crucially, the bottom support is held again, and the descending triangle can be turned from a slow grind lower into a springboard for a powerful reaction.
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A solid defense of this zone would mean that sellers are running out of momentum at these prices. From there, even a modest wave of buying could bring Dogecoin back towards descending resistance line which intersects the chart from the $0.25 to $0.26 area. A break and close above that trendline would mark the first clear higher high in months and would confirm that the triangle is on the upside.
The analyst’s green arrow on the chart outlines this potential path. The track shows Dogecoin rising from the current support band, breaking through resistance and reaching as high as $0.4 in one quick move.
Featured image from Pngtree, chart from Tradingview.com
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