A crypto analyst is now forecasting an imminent bullish breakout that could propel Dogecoin (CRYPTO: DOGE) to higher prices.

What Trader Tardigrade Has To Say

Market expert Trader Tardigrade took to X (formerly Twitter) to share an analysis of the meme coin’s daily chart. According to the analyst, Dogecoin has formed an Ascending Triangle pattern. This pattern is characterized by a rising support trendline and a flat resistance zone, typically signaling a continuation of the prior trend if it’s broken in the direction of that trend.

The crypto analyst notes that Dogecoin has already completed four key touches—two on the ascending support and two on the upper boundary of the triangle. A fifth touch appears to be forming, setting the stage for a possible breakout.

As a result, upon breaking above resistance, Dogecoin could rally toward the $0.285 price level, which is reached when the Ascending Triangle pattern is completed. This move would represent a 42.5% jump from its current price of $0.206.

“Breaking out of the Ascending Triangle, we can see a clear target at $0.285. This would also complete the fifth touchpoint of the triangle, adding another layer to the technical analysis.”

The crypto trader’s chart shows that Dogecoin is testing the upper boundary of the Ascending Triangle pattern. If momentum holds and volume supports this move, Trader Tardigrade predicts that Dogecoin could see a breakout.

“If it breaks down, we might retest the lower boundary of the triangle, which is also an area of strong support.”

Converging Wedge Supports DOGE

Trader Tardigrade’s bullish forecast of a potential short-term rally to $0.285 is supported by a converging wedge pattern on the Dogecoin H4 chart. This pattern is typically observed during periods of price compression.

The analysis shows that Dogecoin is trading within two gradually narrowing trendlines—one sloping downward, acting as resistance, and the other sloping upward, providing support. DOGE’s price has respected these boundaries over multiple sessions, bouncing between them as it consolidates.

The crypto trader notes that Dogecoin is currently sitting right on the support line, a critical juncture that could determine its next major move. The current wedge structure also suggests that bulls may soon take the upper hand, as the projected path drawn on the chart outlines a possible minor retest before a bullish breakout.

This breakout would push the Dogecoin price beyond the upper resistance line, potentially driving it past the $0.285 level and toward $0.29. The peak of the large green arrow on the price chart reflects this projected rally, hinting at renewed upward momentum for DOGE. In the meantime, all eyes are on the support line as Dogecoin closely follows this path in its price action.