“This Area Represents a Structural Foundation”: Dogecoin Returns to Its Breakout Zone at $0.177

DOGE retests triangle apex at $0.177, establishing a key structural base for a potential breakout.

The Relative Strength Index (RSI) indicates a higher low, accompanied by a 150% surge in volume, potentially signaling a bullish divergence on the charts.

DOGE is currently testing the 0.618 Fibonacci level, which analysts identify as a ‘high confluence bounce zone,’ supported by a trading volume exceeding $2 billion.

Dogecoin (DOGE) has returned to a significant structural point, settling directly on the apex of a previously formed symmetrical triangle after the close of its daily candle. This technical formation has garnered considerable market attention, as it could determine the next directional move for the meme-based cryptocurrency. Traders are keenly observing the price action as it tightens, anticipating a possible breakout or breakdown.

Triangle Retest Reinforces Pattern Structure

Analysis shared by Trader Tardigrade on X (formerly Twitter) indicates that Dogecoin has successfully retested the upper boundary of a symmetrical triangle pattern. This pattern developed through multiple touches on both the resistance and support lines before DOGE's initial breakout.

The recent pullback has brought the price back to the triangle’s apex, currently hovering around $0.177. Tardigrade highlighted that “this area represents a structural foundation,” as the price is now testing a confluence zone with significant historical relevance.

Another observation points to DOGE forming a higher low on the RSI, suggesting a potential bullish divergence. If this pattern is confirmed, it could indicate a reduction in selling pressure and potentially pave the way for a new uptrend.

Volume Surge and Historical Patterns Support Bullish Outlook

CryptoElites also shared a historical Dogecoin chart, showcasing repeated symmetrical triangle formations that have previously preceded sharp price increases. Each cycle has followed a similar pattern of consolidation and breakout, often culminating in a vertical rally.

The current formation is emerging at a higher price level, with the projected long-term target remaining at $5. CoinMarketCap data reveals that Dogecoin's trading volume has surged by over 150% in the last 24 hours, reaching over $2 billion. Some analysts suggest that this increase could reflect institutional repositioning amid heightened volatility.

According to BitMonty on X, DOGE is also testing the 0.618 Fibonacci level, which is being referred to as a “high confluence bounce zone.” At the time of this report, Dogecoin is trading at $0.1779, reflecting a 6.05% intraday decline while maintaining technical interest near key levels.