Dogecoin Prepares for Breakout: Analysts Spot Bullish Chart Patterns

According to analyst Ali Martinez, DOGE is currently forming a falling wedge, a classic bullish reversal pattern.

“Dogecoin appears to form a falling wedge, anticipating a 15% price move!” he noted.

A falling wedge typically indicates a period of consolidation before a breakout. If DOGE can break above the upper resistance line convincingly, it could validate the move toward higher price targets.

Bull Flag Targeting $0.29

Crypto influencer Carl Moon is also bullish, spotting a bullish flag setup on DOGE’s 4-hour chart.

“$DOGE is about to take off! Once it breaks out of this bullish flag, the target is $0.29” Carl said, projecting a near 30% upside from current levels.

The bull flag follows a steep rally earlier in the month and suggests the price is temporarily consolidating before its next upward leg.

Key Takeaways

Current price (as of May 18): Around $0.214 Short-term upside potential: 15%–30% Breakout confirmation levels: Upper resistance near $0.22–$0.23

Traders are advised to monitor volume and candlestick confirmation closely, as breakouts from wedge and flag patterns are more reliable with strong follow-through.

Conclusion

With technical indicators aligning and bullish sentiment growing, Dogecoin may be poised for its next move — and all eyes are on a potential breakout that could send it soaring toward $0.29 in the near term.

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