Dogecoin (DOGE) Testing Key Fractal Support — Could It Repeat a Bounce Back?

Date: Sat, Aug 02, 2025 | 11:00 AM GMT

The cryptocurrency market is experiencing continued downward pressure. Ethereum (ETH) faced significant resistance near the $3,940 mark, subsequently declining to $3,480, representing a 7% decrease in a single day. This notable pullback has had a ripple effect, impacting major memecoins. Dogecoin (DOGE), for instance, has shed 16% of its value over the past week, reducing its monthly gains to 14%.

Amidst this market correction, an intriguing development is unfolding. The price action of DOGE is beginning to mirror a familiar fractal pattern observed in late 2024 – a pattern that previously preceded a substantial bullish surge.

Source: Coinmarketcap

Fractal Setup Hints at a Bullish Reversal

A detailed analysis of the daily chart reveals DOGE forming a structure remarkably similar to the October 2024 fractal.

In that instance, DOGE successfully broke above a long-term downtrend line and reclaimed its 50-day moving average (MA). Following this breakout, the price underwent a sharp correction, retesting the 50-day MA as support. This support level proved robust, triggering bullish momentum that ultimately propelled DOGE above its 200-day MA. This positive movement then escalated into an impressive 376% rally toward the upper boundary of its ascending trendline resistance.

Dogecoin (DOGE) Fractal Chart/Coinsprobe (Source: Tradingview)

Currently, DOGE appears to be retracing that same pattern.

It has once again broken out of a downtrend and reclaimed its 50-day MA, followed by a pullback that is currently testing the same 50-day MA support, now located around $0.1942. The technical resemblance is striking, suggesting that history might be about to repeat itself if the pattern persists.

What’s Next for DOGE?

For the bullish scenario to remain viable, DOGE must successfully defend the 50-day MA support. A successful rebound from this level could replicate the 2024 breakout sequence. The next critical level to monitor would be the 200-day MA, currently positioned near $0.2120. Reclaiming this resistance could ignite a renewed uptrend, potentially targeting the ascending trendline resistance, which lies beyond the $0.80 level.

However, a failure to maintain the 50-day MA support could invalidate the fractal setup and pave the way for a more significant correction.

Disclaimer: This article is intended for informational purposes only and does not constitute financial advice. It is essential to conduct thorough research before making any investment decisions in cryptocurrencies.