Dogecoin (DOGE) Price Breaks Out of Ascending Triangle, Targeting $0.195

After weeks of sideways action, DOGE price broke above key resistance at $0.16, triggering renewed bullish interest.

Dogecoin price is currently showing signs of bullish momentum as confirmed by two technical patterns and a macro uptrend.

After weeks of sideways action, DOGE broke above a key resistance level and triggered a new wave of bullish interest.

Several analysts have also identified several technical indicators that align with potential price targets of $0.195 and $1.25.

Higher-Low Macro Structure Supported $0.6533 and $1.25

Crypto analyst Javon Marks presented a macro-technical perspective, highlighting Dogecoin's (CRYPTO: DOGE) sequence of higher lows since earlier in the year.

"This pattern showcased persistent demand despite intermittent corrections and mimicked the setup during previous explosive rallies."

According to Marks, Dogecoin's recent structural resilience supports a path toward $0.6533, a potential 279% gain from current levels.

"The structure is similar to one preceding a past 500% rally, suggesting a historical precedent for large upside moves when higher-low trends hold firm."

Furthermore, Marks also identified $1.25 as a long-term price target for Dogecoin, consistent with the meme coin's behavior during major breakout cycles. The key, he noted, is the integrity of the current trend. If the structure remains intact, momentum could build toward those higher levels.

Dogecoin Price Ascending Triangle Breakout

According to market analyst Ali Martinez, Dogecoin price broke out of an ascending triangle formation on the 1-hour chart. The triangle was defined by a rising trendline of higher lows against a horizontal ceiling near $0.162. This structure hinted at bullish pressure building below resistance.

"The breakout projects a short-term price target of $0.195, based on the triangle's vertical height from the breakout point."

Volume spiked alongside the move, confirming the breakout's validity. The triangle's consistent support line had shown that buyers remained active during pullbacks. Now that price action has pushed above the triangle, short-term bulls are targeting the $0.17 to $0.195 range. The chart now shows an established uptrend after consolidation, increasing the probability of sustained bullish movement in the near term.

"Dogecoin's ability to break this pattern could reflect renewed market sentiment," said Martinez.

After trading sideways since early April, this confirmed breakout changes Dogecoin's short-term technical outlook.

Symmetrical Triangle Breakout Adds Confirmation

Additional confirmation was highlighted by analyst Ehsan Zeydabadi, who noted a symmetrical triangle pattern on Dogecoin's 4-hour chart. This pattern had been forming for several weeks, with the price fluctuations contained within two converging trendlines. The resistance zone near $0.166 had rejected DOGE multiple times, on April 2, April 14, and April 21.

"Finally, today, April 21, we witnessed a breakout from the upper boundary of the symmetrical triangle pattern. At the time of writing, Dogecoin price is trading at $0.15785, moving toward the $0.16–$0.17 region with strong bullish candles."

This breakout aligns with the ascending triangle structure described by Ali, providing multi-timeframe support for the bullish case.

"This breakout converts the short-term resistance into support, setting the stage for a move toward the next resistance levels. Moreover, the breakout occurred with high volume, which is a crucial factor in confirming the validity of the breakout and the potential for a strong follow-through trend."

The alignment of patterns across different charts signals synchronized momentum across the short and medium terms.

Key Resistance & Support Levels

With Doge price currently trading around $0.18, analysts have identified several levels to keep in mind. Resistance remains near $0.166, which previously acted as a ceiling during consolidation. Above that, $0.195 has been mentioned by Zeydabadi and Ali as a potential breakout target in the near term.

Furthermore, if the bulls manage to maintain control and push beyond this level, the next resistance is set at $0.14632. If the trend shows signs of weakening, further resistance levels are pegged at $0.13850 and $0.12980.

However, with the current indicators suggesting a bullish trend for the top meme coin, it can be expected that the bulls will return to charge and drive the price action higher.