Dogecoin Faces Crucial Breakout Test at Descending Triangle

Dogecoin (DOGE) has been trading near $0.0918, up 2.4% on the day, as it tests the upper boundary of a long-running descending triangle on its weekly chart.

This pattern, which has defined much of DOGE's price action over the past year, is formed by a flat horizontal support level near $0.067-0.09 and a downward-sloping trendline connecting a series of lower highs stretching back toward the 2021 peak near $0.48.

Buyers are looking for a decisive weekly close above this trendline to confirm a breakout, which would open the path toward $0.15651, then $0.28752, with $0.48404 as the stretch level.