Dogecoin (DOGE) appears to be on the verge of a price breakout after spending weeks trading in a narrow range. The popular meme cryptocurrency is currently trading at around $0.17, but multiple technical indicators suggest that the coin could be making a move.

Two respected crypto analysts have identified promising patterns in DOGE’s price charts.

On the one-hour chart, Ali Martinez observed a symmetrical triangle formation with an upper limit at $0.18 and a lower support line extending upward from $0.144. According to Martinez, a clear hourly candle close above the $0.16-$0.18 zone would trigger a 16% price increase from the breakout point. This move would release buying pressure that has been building over the past ten days.

Another analyst, CW, presented a daily chart showing what appears to be a falling wedge formation dating back to December 2024. In this pattern, DOGE formed lower highs and lower lows, converging toward a narrowing point.

$DOGE has break through the falling wedge pattern.

Now it's time to move towards the Fibonacci retracement level of 1.618. The target is $0.71.