TLDR:

Dogecoin forms a symmetrical triangle between $0.16 support and $0.22 resistance.
A daily close above $0.22 may confirm a bullish trend reversal and drive upside momentum.
A breakdown below $0.16 could spark strong selling and shift DOGE into bearish territory.
DOGE volume nears $917M as price consolidates near the midpoint, signaling rising trader interest.

Dogecoin may be nearing a breakout that could drive its next major move. Analysts have highlighted a critical range between $0.16 and $0.22 that continues to dictate the price trend. 

The coin has traded sideways within this band for weeks, showing signs of growing tension. Observers suggest a breakout on either side could lead to a decisive 60% swing. Traders are now closely monitoring price action for a clear direction.

Symmetrical Triangle Tightens DOGE Price Action

The Dogecoin chart shows a symmetrical triangle pattern, with price compressing between converging trendlines. 

#Dogecoin $DOGE looks prime for a 60% price move! All you need to do is wait for a daily close outside of the $0.16 to $0.22 range to determine the direction of the trend.

So go to @coinexcom, sign up using my referral link https://t.co/73n8mWavUX, and join me in this trade! pic.twitter.com/Im27DBuBka

— Ali (@ali_charts) June 19, 2025

This setup often indicates a period of indecision before a strong move. The lower boundary at $0.16 has acted as support, while resistance has held near $0.22.

According to crypto analyst Ali, Dogecoin remains locked in this range. He suggested that a daily close beyond either level could confirm a major trend shift. This type of technical formation often results in a steep move, especially after extended consolidation.

Another trader, Bellamy, noted a potential shift in momentum after Dogecoin appeared to break out of a falling channel. This may indicate the start of a trend continuation if bulls can maintain pressure. 

He emphasized that breakout traders will be watching closely for confirmation of strength.

$DOGE just broke out of the falling channel.

Momentum shifting.
Eyes on continuation from here.

Breakout traders know what this means. pic.twitter.com/V5y6Fk46au

— Bellamy (@Bellamy_Jake1) June 19, 2025

If the price closes above $0.22, this may trigger bullish momentum. On the downside, losing support at $0.16 could open the door for a sharper decline. In either case, traders await a decisive daily close to determine the breakout direction.

Current Dogecoin Price Reflects Market Uncertainty

At press time, CoinGecko reports that Dogecoin is trading at $0.1692. The 24-hour volume stands at $917.5 million, reflecting renewed trader interest. The price has climbed 2.08% in the last 24 hours, but remains down nearly 10% over the past week.

Despite recent volatility, the price still hovers near the midpoint of the $0.16 to $0.22 range. This further reinforces the idea that a breakout is imminent, though the direction remains uncertain. With consolidation tightening, traders appear ready for movement once price action confirms a break.

Market watchers remain focused on daily candle closes above or below the established range. Until either level is broken, the trend remains neutral. However, the structure of the symmetrical triangle suggests a move is coming soon.

 

The post Dogecoin Eyes 60% Move as Price Tightens Between Key Levels appeared first on Blockonomi.

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Filed under: Bitcoin - @ June 19, 2025 2:21 pm