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The price of Dogecoin has reached $0.24, which is the same price as it was in June. Every time sellers knock it down, buyers step in a little earlier, and now the whole chart is pressing against that $0.30 barrier that refuses to break.
The setup is simple to understand: DOGE will either hold here and run, or drop to under $0.23, and the whole optimistic scenario will be invalidated.
The math points one way if the pattern continues. The trigger is $0.30. If you clear it, the Fibonacci ladder sets up $0.32, then $0.38, $0.42 and finally the $0.49-0.50 zone. At the moment, DOGE is close to a 100% move, which is not something many major cryptocurrencies can offer.
The last push into $0.30 did not go according to plan, with the price dropping back down into the mid-$0.20s. But the reaction after that drop is what matters most.
Instead of breaking down, DOGE bounced right where the trendline said it should, keeping the structure intact and tightening the triangle even further.
What's up with DOGE?
These patterns do not last forever; once the range is squeezed enough, it breaks, and the move that follows usually does not leave much time to chase.
That is why traders are keeping a close eye on the $0.23-0.24 area.
If Dogecoin loses it, the story is over. If it holds, then this area might be remembered as the last real cheap entry before DOGE finally clears $0.30 and tries to reclaim levels not seen since 2021.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team