Dogecoin (DOGE) is holding steady around $0.170 after bouncing back from earlier session lows, with traders closely watching a developing symmetrical triangle pattern that could trigger a significant 60% price swing.
Despite market jitters from ongoing macroeconomic tensions, DOGE has shown resilience, recovering from its dip to $0.16, which has now become a key support level.
Market Insights
- Technical analysts note that DOGE’s symmetrical triangle, combined with lower volatility and decreasing volume, is a classic setup for a big breakout.
- Although it’s unclear which direction the move might take, historical patterns suggest a potential price shift as large as 60%.
- The Federal Reserve’s upcoming policy announcement is adding further uncertainty to crypto markets, heightening interest in DOGE’s next move.
Price Action Highlights
In the last 24 hours, DOGE traded within a 2.7% range between $0.167 and $0.172:
- The coin dropped 1.8% early in the session but rebounded strongly at $0.168, driven by a surge in trading volume to 248 million DOGE, the day’s peak.
- DOGE then consolidated between $0.170 and $0.172, repeatedly testing resistance levels.
- At 13:00, sellers pushed back an attempt to break $0.172, generating 193 million in selling volume.
- A further pullback between 13:45 and 13:51 saw volume rise to 18.7 million, yet DOGE maintained support around $0.170.
Technical Snapshot
- Range: $0.167–$0.172 (2.7% daily move)
- Support: Strong buying confirmed at $0.168
- Resistance: Firm at $0.172 following multiple tests
- Pattern: Symmetrical triangle tightening, signaling potential breakout
- Indicators: RSI steady near 50; MACD flat, indicating compressed momentum
With DOGE consolidating and volatility dropping, traders are on alert for a decisive move that could propel prices sharply higher—or lower—in the days ahead.
