Dogecoin (Doge) is being pushed against a technical inflection that concludes the current rise as “two months” or expands into a third wave advance towards about $2. “The cycle will end in two months or you’ll think it’ll be the next Wave 3 target for $2 (1.618 for Wave 1),” analysts. I wrote it X shares a 3 chart package focusing on weekly unsolved profiles, daily trend line breaks, and multi-year Fibonacci levels.
Dogecoin cycle breaks down, or $3-2
In the weekly time frame, Doge trades around $0.27 and is about to re-enter the one-sided cloud from underneath. The posted unsolved readings indicate key levels that are gathered just above the spot. The Tenkan/Kijun pair is mid-range of the $0.22-$0.25 area, with the forwards extending to the above bounded cloud, close to $0.2969.
Related readings
Chart Annotation – “Doge says it’s raining outside and wants to go back into the weekly cloud cloud” – showing that the Bulls first need a critical close-up inside the cloud body, then from above, the $0.30 zone serves as an immediate weekly resistance. Accepted weekly on top of the cloud top marks a regime shift from neutral/resistance to support conditions in Chinese terminology. The obstacles continue to lock the price under the heavy ceiling.
Companion Daily Chart separates structures within its wide setup. The long, descending trendline, drawn from the late 2024 high, has been shown to be rising and breaking in the second quarter, with subsequent price action retesting the mid-regional dashed line between $0.24-$0.25 and bounce back to $0.27.
Keep that sequence – breakout, retest, keep – Short-term bias constructive As long as the prices exceed the trendlines that have been revived and the low swing zone in late September, by around $0.24. Analysts added “Doge Daily – No Update” to mean that daily structures remain unscathed and unchanged since breakout and retesting.
The third chart frames a larger roadmap via Fibonacci measurements taken from a multi-year base. Labeled retracement lines are 0.618 for $0.236, $0.0843, $0.382, $0.1542, $0.500, $0.618, $0.2968, $0.2968, and “1.0” marker is $0.4844.
Related readings
More than that, the expansion goals are plotted at 1.272 ($0.9029), 1.414 ($1.2497), and 1.618 ($1.9934). These levels match the “Wave 3” target of the analyst and highlight at the same time The importance of a band at ~$0.30: Matches weekly cloud top and 0.786 retracement.
So a clean move through $0.2968-$0.30 opens a path towards a 1.0 pivot of ~$0.4844. Conversely, a refusal under $0.30 will be trapped between Doge between the underside of the cloud and daily support, maintaining the next major Fibonacci support if the shelves with $0.2021 (0.618) of $0.24-$0.25 are lost.
In short, the two-way analyst framing is fixed to a well-defined technical gate. In the uptick case, each week is led to a break of $0.30 and progression to a 0.48″1.0″ marker and a progression to an extension band of $0.90-1.25 prior to a projection of $1.618, and a weekly acceptance afterwards.
The downside or “cycle complete” interpretation fails to hold a daily trendline retest and slides towards a $0.20 confluence around a $0.20-$0.21 retracement at $0.24. For now, Doge has a midrange for around $0.27, with a cloud top of $0.2968-$0.30. The next definitive test.
At the time of pressing, Doge traded for $0.26.
Featured images created with dall.e, charts on tradingview.com
