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DOGE Dogecoin is approaching the key long-term support level, and the monthly TD Sequential sends a buy signal
Dogecoin is approaching the key long-term support area near US$0.056. At the same time, the monthly TD Sequential indicator sends a buy signal, implying a possible reversal. If this area can be held, prices are expected to recover to US$0.16 or even eventually US$0.45; a fall below US$0.05 could weaken the structure of the bullish cycle.
Dogecoin is on the verge of its last line of defense, and its huge triangle shape narrows
Dogecoin is approaching a key long-term support area within a multi-year contraction triangle. Analyst XForceGlobal pointed out that if this pattern can be held above the failure level, based on the logic of cyclical rotation and chip accumulation, there may still be a highly speculative 10-to 20-fold upside.
The chart shows that DOGE is currently around US$0.073 after continuing to fall since its 2024 high. Prices are moving towards the downward triangle, an uptrend line that has supported the overall structure since the market low in 2022.
According to analysts 'Elliot Wave Theory, Dogecoin may still complete several rounds of fluctuations in this form before attempting a larger-scale breakthrough. The expected path includes a rebound, a correction, and a final test of support before momentum starts.
However, bullish expectations depend on DOGE's ability to hold on to the protected four-wave lows and the red failure zone near $0.05. If the weekly line decisively falls below this zone, it will negate the setting of the triangle pattern and cause Dogecoin to face a deeper decline.
At the same time, if prices rise above $0.10, it will be the first signal that buyers are back in control of the situation. DOGE then needs to break through resistance levels around $0.18 and $0.24, and the downward upward trajectory to make the larger goal credible.
Currently, Dogecoin is approaching a support area of the "last line of defense" rather than a confirmed breakthrough. Holding the triangle pattern maintains a narrative of long-term accumulation, while failure to comply with rules weakens the expected bullish cycle.
Dogecoin showed a monthly buy signal near the key support level of US$0.056
Dogecoin triggered a TD Sequential buy signal on the monthly chart, while the price is approaching the important support level near US$0.056. Analyst Ali Martinez said holding that level could support a rebound in prices to US$0.16, while a broader channel leaves room for long-term movements, with a target at US$0.45.
This signal comes after a period of continued decline, indicating that bearish momentum may be close to exhaustion. However, the TD Sequential signal only indicates a potential inversion area, rather than confirming that a bottom has been formed.
The $0.056 level remains the core of this setting. If prices continue to react above the support level, DOGE could regain nearby resistance and start attacking US$0.10 before attempting a larger rise to US$0.16.
A breakthrough of US$0.16 will strengthen the rally and shift attention to higher levels in the long-term channel. The channel's upper rail is close to $0.45, representing a broader bullish target, but reaching this target requires multiple confirmed breakthroughs.
However, if the monthly closing price decisively fell below US$0.056, it would weaken the buy signal and negate expectations of an immediate rebound. This may lead to a deeper correction in Dogecoin below the current support structure.
Currently, DOGE is testing a potential reversal area rather than identifying a new uptrend. Holding $0.056 will keep the $0.16 target valid, while the $0.45 forecast remains a long-term and conditional scenario.
