Chart: TradingView

Two renowned chart technicians are viewing the recent move by Dogecoin (DOGE) as a major technical setup that could set the stage for a sizable breakout.

Over the past four days, the Dogecoin price saw an increase of more than 17%, approaching bullish territory according to two analysts.

Chart Technician Highlights Crucial Price Level For Dogecoin

Early today, Rekt Capital shared a weekly DOGE/USDT chart highlighting key price levels at $0.159, $0.204, and most critically $0.22.

According to the analyst, the question now is whether Dogecoin can "reclaim and/or Weekly Close above $0.22"—a level he refers to as a green zone of Pre-Halving highs on his chart.

The recent dip below $022 could be viewed as a downside deviation, meaning that any breach beneath that threshold might have been temporary if price action stabilizes above $0.22 in the near future.

The candlesticks near $0.20 and $0.22 show wicks, which indicate high volatility.

According to Rekt Capital, this is part of a "very volatile retest" of the price region around March highs.

From a technical standpoint, the $0.22 area acts as a pivot. If Dogecoin were to close a weekly candle above that boundary, it would suggest that buyers are regaining control, potentially setting the