DOGE coils in falling wedge - breakout near?
Although things may not look very bullish across the wider cryptocurrency market, Dogecoin (DOGE) is coiling within a falling wedge pattern while its Relative Strength Index (RSI) approaches long-term support, a combination signaling an impending bullish reversal.
Ad
Specifically, DOGE has been consolidating in a descending wedge formation on its 4-hour chart, a structure typically taking shape near the end of corrective moves, per an analysis by popular crypto expert Trader Tardigrade shared in an X post on October 22.
As it happens, this setup shows price tightening between converging trendlines with diminishing volatility, which are the conditions that often precede a breakout. As the crypto trading analyst put it:
“Dogecoin is nearing the verge of a falling wedge chart pattern, and its RSI is approaching support.”
RSI hints at rebound potential
Indeed, Dogecoin’s RSI is currently holding an upward-sloping support line that has historically acted as a springboard for bullish momentum. Previously, each bounce from this RSI trendline has aligned with a short-term DOGE rally. The convergence of RSI support with wedge compression adds technical confluence for a potential move higher.
Ad
Currently, Dogecoin is changing hands at $0.1911, which indicates a decline of 1.03% in the last 24 hours, as well as a 7.05% dip across the previous seven days, alongside a drop of 20.19% accumulated on its monthly chart, according to the most recent price data.
Meanwhile, DOGE’s horizontal support around $0.19 has held firm through recent volatility, forming the wedge’s base.
A decisive breakout above $0.20 – $0.202, alongside positive Dogecoin news like its commercial arm acquiring a majority stake in a historic Italian professional football club, could confirm the pattern and open the door to targets in the $0.21 – $0.22 range.
On the flip side, a clean break below $0.19 would invalidate the bullish structure and risk a move toward $0.185.
How do you rate this article?
Subscribe to our YouTube channel for crypto market insights and educational videos.
Join our Socials
Briefly, clearly and without noise – get the most important crypto news and market insights first.
Most Read Today
1
Samsung crushes Apple with over 700 million more smartphones shipped in a decade
2Peter Schiff Warns of a U.S. Dollar Collapse Far Worse Than 2008
3Dubai Insurance Launches Crypto Wallet for Premium Payments & Claims
4XRP Whales Buy The Dip While Price Goes Nowhere
5Luxury Meets Hash Power: This $40K Watch Actually Mines Bitcoin
Latest
8
Also read
Similar stories you might like.
Bitcoin
Why Bitcoin Looks Weak Today But Strong Long-Term
Ana | 2026-01-29
Altcoins
Tom Lee’s Bitmine Deepens Massive Ethereum Staking Bet to $7.6B
Ana | 2026-01-29
Altcoins
Dogecoin Bulls vs. Bears? One Key Line Decides Everything
Ana | 2026-01-29
Altcoins
XRP Whales Buy The Dip While Price Goes Nowhere
Ana | 2026-01-29
Altcoins
Russia Finalizes Rules for Bitcoin, Ethereum, and Stablecoins
Ana | 2026-01-29
Altcoins
Crypto Mirrors 2020 as a 2021-Style Rally Looms
Ana | 2026-01-28
Bitcoin
Bitcoin’s Four-Year Cycle Is “Dead,” Claims the World’s Smartest Man
Ana | 2026-01-28
Altcoins
Grayscale Tweaks XRP Trust Filing as Spot ETF Momentum Heats Up
Ana | 2026-01-29
Bitcoin
Dorsey’s Offline Chat and Bitcoin App Surges Amid Iran, Uganda Shutdowns
Ana | 2026-01-29
Altcoins
Vitalik Warns Crypto’s Biggest Risk Isn’t Hackers – It’s Something Worse
Ana | 2026-01-28