Dogecoin Eyes Recovery from Major Trend Line: Target is $0.30?

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Dogecoin (DOGE) is showing signs of maintaining an important upward trend line that has acted as support since October 2024. According to a recent analysis by @ali_charts, the pullback to the $0.14 level could provide an important accumulation opportunity before a potential breakout. The weekly chart highlights a clear technical structure, with DOGE currently trading around the $0.17 level, just slightly above the 0.5 Fibonacci retracement level.

If this support level holds, the chart indicates a recovery targeting the Fibonacci level 0.786 at $0.30, which also aligns with previous resistance areas. The trend line, extending from the late 2023 breakout of DOGE, has successfully cushioned previous pullbacks. A recovery from this zone, combined with improved sentiment in meme coins and altcoins, could mark the beginning of a higher bullish phase. However, if it cannot be maintained on this trend line, it may invalidate the setup and cause DOGE to continue to drop to the 0.13–0.12 dollar level.

DOGE-0.89%
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