Dogecoin is trading around $0.196 after recovering from a brief dip near $0.194 earlier in the session.
The price is showing steady upward momentum, supported by increasing buyer interest after a period of consolidation.
If this strength continues, DOGE could retest the $0.20 resistance zone in the short term.
The Memecoin was trading at $0.1967, reflecting a modest 1.26% decline at the time of writing.
Ali Martinez’s chart is showing Dogecoin rebounding strongly from a key support level within its ascending channel.
This area has acted as a crucial demand zone, where buying pressure tends to increase each time DOGE dips toward it.
The recent bounce suggests renewed bullish momentum, indicating that traders are defending this trendline with confidence.
Historically, such moves often precede short-term rallies, especially when accompanied by rising volume and improving market sentiment.
If the upward trajectory holds, Dogecoin could climb toward the $0.32 target highlighted by Martinez.
That level represents the upper boundary of the channel, serving as both a technical and psychological resistance point.
A decisive breakout above it could trigger an extended bullish run, while failure to maintain support might lead to a brief consolidation.
Overall, the chart signals strengthening market structure, with bulls aiming to reclaim higher price levels in the coming sessions.
Dogecoin near breakout from symmetrical triangle
According to analyst Trader Tardigrade, Dogecoin’s 4-hour chart is showing a symmetrical triangle pattern forming, marked by converging trendlines that indicate tightening price action.
This pattern often represents a period of consolidation where buyers and sellers reach a temporary balance.
The narrowing structure suggests that a decisive move is approaching, as volatility typically contracts before a breakout.
A breakout from this formation could signal the next major trend direction.
If DOGE breaks above the upper resistance line with strong volume, it may initiate a bullish run toward previous highs.
Conversely, a breakdown below the lower trendline could trigger a short-term decline.
Traders are closely monitoring this setup, as symmetrical triangles often precede significant price movements in either direction.