Analyst Says Dogecoin Price Is Ready To Surge, But Buy DOGE Under These Levels

The Dogecoin price may be preparing for a powerful breakout after a long period of sideways trading and consolidation. A recent market outlook suggests that DOGE is forming a bullish structure that could lead to a strong upward move. However, analysts warn that the best buying opportunities remain limited to specific lower price levels before the next major rally ￰0￱ Pattern Signals Dogecoin Price Breakout Toward $0.5 Market analyst Elite Crypto noted in a recent post on X social media that the Dogecoin price appears to be forming a major breakout pattern, signaling a potential upward move ￰1￱ analyst’s chart shows a textbook Cup and Handle pattern, a formation that is typically associated with long-term bullish ￰2￱ Reading: Pattern That Led To Dogecoin Price 36,000% Surge In 2021 Has Emerged Again, Will History Repeat?

Dogecoin’s chart setup indicates that the meme coin has completed the “Cup” phase, where prices gradually curved upwards after a long period of accumulation. Now, price action is in the “handle” stage, which, upon completion, usually precedes a breakout to higher ￰3￱ Elite Crypto’s chart, the cup’s base extends from early 2022 through 2024, with Dogecoin consolidating steadily before beginning a rebound into ￰4￱ market analyst has indicated that if history repeats, the DOGE price could experience a strong rally toward the $0.50 mark, a potential gain of over 160% from its current levels around $0.19. The chart also illustrates a crucial accumulation zone highlighted in green, where the price has been ￰5￱ to Elite Crypto, this range represents an ideal accumulation area before a larger move ￰6￱ emphasized that any price action below the $0.155 level should be considered a solid buying opportunity for spot ￰7￱ Structure Confirms New DOGE Buying Zone In a separate X analysis, crypto market expert Vexe also pointed out a key buying zone for the Dogecoin ￰8￱ highlighted that DOGE has cleared all downside liquidity and is not holding firmly above its weekly support ￰9￱ Reading: Dogecoin Price: ‘$6.9 Is A Magnet’, Analyst Predicts The analyst’s chart shows that the Dogecoin price action recently rebounded from a key demand area after testing lower ￰10￱ price has stabilized near $0.20, suggesting that sellers may be exhausted, and a potential reversal is taking ￰11￱ green shaded area on the chart highlights the reversal zone, which Vexe calls an ideal buying ￰12￱ chart also features a descending trendline connecting multiple swing highs from the previous ￰13￱ has already tested the resistance line and shows early signs of breaking ￰14￱ the resistance line, Vexe projects a price target of $0.49, representing a potential upside of roughly 327.67% from the lower support zone.

Notably, this $0.49 target would also reflect a 157% increase from DOGE’s price of $0.19. According to CoinMarketCap’s data, the meme coin is currently down by approximately 4% in just one day and 28% over the past month.