Dogecoin is Preparing to Explode — Analysts Say to Watch This Price Level

Over the past four days, the price of Dogecoin has increased by more than 17% and is therefore approaching bullish territory according to two well-known charting experts. Rekt Capital (@rektcapital) and Henry (@LordOfAlts), are pointing to what they believe is a major technical setup on the Dogecoin (DOGE) price chart—potentially signaling a significant breakout. This Price Level Is Very Important For Dogecoin This morning, Rekt Capital shared the weekly DOGE/USDT chart highlighting key price levels of $0.159, $0.204, and most importantly, $0.22. According to the analyst, the trajectory of Dogecoin now depends on whether it can "reclaim and/or close weekly above $0.22" — a level he refers to as the green zone of the previous highs before the Halving on his chart.

Rekt Capital thinks that the recent drop below $0.22 is likely to be just a "downward deviation," meaning that any breach below that threshold could be temporary if price action stabilizes above $0.22 for the foreseeable future. Candlesticks near $0.20 and $0.22 represent noticeable wicks, indicating high volatility. Rekt Capital interprets these as part of a "very volatile retest" of the price range around its March high. From a technical perspective, the $0.22 zone appears to act as a pivot point. If Dogecoin closes the weekly candle above that boundary, the likelihood of buyers regaining control will increase, potentially setting the stage for a move toward higher resistance levels—such as the $0.28 and $0.338 zones, identified by two horizontal green lines on the chart from Rekt Capital. Has the Breakthrough of DOGE Been Confirmed Yet? Meanwhile, analyst Henry (@LordOfAlts) pointed out a bearish wedge pattern extending for several months from late 2024 to the first quarter of 2025. Henry noted that this pattern is similar to the bearish wedge pattern of Dogecoin in 2024, which ultimately led to a breakout and significant bullish movement. On Henry's chart, DOGE has been consolidating between two downward sloping trendlines for months. The upper trendline connects the lower highs since the coin peaked above $0.48, while the lower boundary captures a string of descending lows.

Henry's analysis points to a similarity between the current wedge pattern and a similar structure that increased 365% starting in October 2024. In the past few days, Dogecoin has broken out of the bearish wedge pattern once again, potentially setting the stage for another strong rally. While Henry didn't guarantee a specific goal, he commented that last time "The last time it happened something like that was on Sept. 24. Next is 50 cents, then $1," concludes with a brief indication of "Believing in cycles." At press time, DOGE was trading at $0.19583.