Analysts: Dogecoin Set to Surge, Keep an Eye on Price – Cointimes

In the last four days, Dogecoin has seen a price increase of over 17%, bringing it close to a bullish territory as suggested by two expert chart analysts. Rekt Capital and Henry, who go by the handles @rektcapital and @LordOfAlts, respectively, have identified what they believe to be a significant technical setup on the Dogecoin price chart, indicating a potential breakthrough ahead.

Rekt Capital recently shared a weekly DOGE/USDT chart with key price levels marked at $0.159, $0.204, and a crucial level at $0.22. The analyst emphasized the importance of Dogecoin being able to “reclaim and/or Weekly Close above $0.22,” which he refers to as the green zone of Pre-Halving highs on the chart. The recent dip below $0.22 may have been a temporary downside deviation, and if the price stabilizes above this level, it could signal a positive trend. The candlesticks near $0.20 and $0.22 show high volatility with notable wicks, suggesting a volatile retest of the region around the March highs. The $0.22 area acts as a pivot from a technical standpoint. Closing a weekly candle above this boundary would indicate a shift in control to buyers, potentially leading to further upward movements toward resistance levels at $0.28 and $0.338, as depicted by the horizontal green lines on the chart.

Another analyst, Henry, noted a multi-month falling wedge pattern on Dogecoin’s chart, extending from late 2024 through the first quarter of 2025. Drawing a parallel to a similar structure in 2024 that resulted in a breakout and a significant price surge, Henry suggested that Dogecoin could be poised for a similar move. The coin had been consolidating between two downward-sloping trendlines, with the upper trendline showing lower highs and the lower boundary capturing descending lows. The breakout from the falling wedge pattern in recent days could set the stage for a potential surge, although specific targets were not guaranteed. Henry referenced a previous surge in October 2024 and hinted at the possibility of reaching $0.50 and eventually $1.00, advising to “Trust the cycle.” At the time of writing, DOGE was trading at $0.19583.

The analysis from both Rekt Capital and Henry suggests that Dogecoin may be on the verge of a significant price breakout, with the potential to reach higher levels if it can overcome key resistance levels and maintain positive momentum. Investors and traders will be closely monitoring the price action to see if Dogecoin can capitalize on the technical setup highlighted by these analysts.