Analyst Says Dogecoin Price Is Ready To Surge, But Buy DOGE Under These Levels – Crypto News – Crypto News
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Analyst Says Dogecoin Price Is Ready To Surge, But Buy DOGE Under These Levels – Crypto News

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6 months ago

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The Dogecoin price may be preparing for a powerful breakout after a long period of sideways trading and consolidation. A recent market outlook suggests that DOGE is forming a bullish structure that could lead to a strong upward move. However, analysts warn that the best buying opportunities remain limited to specific lower price levels before the next major rally begins.

Chart Pattern Signals Dogecoin Price Breakout Toward $0.5

Market analyst Elite Crypto noted in a recent post on X social media that the Dogecoin price appears to be forming a major breakout pattern, signaling a potential upward move ahead. The analyst’s chart shows a textbook Cup and Handle pattern, a formation that is typically associated with long-term bullish reversals.  

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Dogecoin’s chart setup indicates that the meme coin has completed the “Cup” phase, where prices gradually curved upwards after a long period of accumulation. Now, price action is in the “handle” stage, which, upon completion, usually precedes a breakout to higher levels. 

Source: Chart from Elite Crypto on X

In Elite Crypto’s chart, the cup’s base extends from early 2022 through 2024, with Dogecoin consolidating steadily before beginning a rebound into 2025. The market analyst has indicated that if history repeats, the DOGE price could experience a strong rally toward the $0.50 mark, a potential gain of over 160% from its current levels around $0.19.  

The chart also illustrates a crucial accumulation zone highlighted in green, where the price has been coiling. According to Elite Crypto, this range represents an ideal accumulation area before a larger move unfolds. He emphasized that any price action below the $0.155 level should be considered a solid buying opportunity for spot investors. 

Reversal Structure Confirms New DOGE Buying Zone

In a separate X analysis, crypto market expert Vexe also pointed out a key buying zone for the Dogecoin price. He highlighted that DOGE has cleared all downside liquidity and is not holding firmly above its weekly support range. 

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The analyst’s chart shows that the Dogecoin price action recently rebounded from a key demand area after testing lower levels. The price has stabilized near $0.20, suggesting that sellers may be exhausted, and a potential reversal is taking shape. The green shaded area on the chart highlights the reversal zone, which Vexe calls an ideal buying zone. 

His chart also features a descending trendline connecting multiple swing highs from the previous cycle. Dogecoin has already tested the resistance line and shows early signs of breaking out. Above the resistance line, Vexe projects a price target of $0.49, representing a potential upside of roughly 327.67% from the lower support zone. 

Notably, this $0.49 target would also reflect a 157% increase from DOGE’s price of $0.19. According to CoinMarketCap’s data, the meme coin is currently down by approximately 4% in just one day and 28% over the past month.

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