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Dogecoin (DOGE) is on the brink. Ali Martinez just shared some latest chart analysis, and it looks like the meme coin is currently testing the lower boundary of a symmetrical triangle pattern. This formation has been developing since early February.
The focal level is $0.168. If DOGE goes below that, it could drop by as much as 30%, with price targets as low as $0.12 or even $0.093 based on Fibonacci extension levels.
After reaching around $0.44 earlier in the year, Dogecoin has been on a bit of a downslide, moving within a pretty tight range. The latest prices show DOGE trading at around $0.175, just above the triangle's lower trend line and the important 78.6% Fibonacci retracement level at $0.181.
Why does $0.168 matter so much? That's the final buffer before price enters what many technical traders call a "void zone" — a price area with little historical support.
If bears push DOGE below this floor, downside momentum could speed up quickly, as previous bids are sparse until the $0.13 to $0.12 region. Look at the numbers in more detail, you'll see that there's a chance of $0.093 and even $0.078.
If DOGE can hold and bounce, the $0.205 and $0.237 resistance levels become key points to watch. Meanwhile, the bullish trend is likely not to continue unless DOGE breaks above the triangle's upper boundary, which has been stopping it from climbing.
Dogecoin has been finding it tough to get back on track, even as the rest of the crypto markets try to bounce back. With low volatility and thinning volume, the next move could be sudden and decisive.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team