Dogecoin Price Analysis: Triangle Pattern Signals 60% Price Swing in DOGE
Dogecoin Bounces From 16 Cents As Triangle Formation Foreshadows 60% Price Move
DOGE is creating a tight consolidation pattern with a triangle configuration indicating a possible 60% price swing.
By Shaurya Malwa, CD Analytics Updated June 20, 2025 4:28 PM Published June 20, 2025 4:28 PM
Key points:
- Dogecoin stabilizes around $0.170 after a sharp pullback from session lows, indicating signs of accumulation amid macroeconomic instability.
- The cryptocurrency is forming a symmetrical triangle, which experts believe could lead to a significant price change.
- Despite attempts to break through the $0.172 level, Dogecoin encountered resistance, but strong support formed at the $0.168 mark.
Dogecoin is stabilizing around $0.170 after a sharp pullback from session lows, showing signs of accumulation amid macroeconomic instability impacting global markets.
The meme cryptocurrency found strong support at $0.16 and is now moving inside a symmetrical triangle, a technical pattern known to precede major directional moves.
News context
- Analysts are increasingly focusing on the narrowing technical structure of DOGE. The current symmetrical triangle configuration, coupled with decreasing volume and volatility, suggests that a breakout may be imminent.
- The historical antecedent pattern of this structure suggests a possible 60% price move, although the direction remains uncertain.
- As the Federal Reserve prepares to release its next policy guidance and risk assets remain under pressure, DOGE's position near a breakout point could present an opportunity – or a risk – for traders looking for a resolution.
Price dynamics
DOGE traded in a 2.7% range between $0.167 and $0.172 over the 24-hour period. A sharp 1.8% drop at 04:00 was followed by a strong recovery at 07:00, with volume increasing to 248 million units, the highest volume of the day. This rebound cemented $0.168 as a major support level.
The price action then entered a consolidation phase between $0.170 and $0.172. Attempts to break above the resistance at $0.172 were rejected at 13:00 on 193 million in volume. Downside pressure resumed around 13:45–13:51 when volume jumped again to 18.7 million, but DOGE held at $0.170.
Analysis of the technical situation
- DOGE has shown a 2.7% range in 24 hours, trading between $0.167 and $0.172.
- The sharp 1.8% drop early in the session was offset by $248 million in volume at $0.168, which has now been confirmed as support.
- The consolidation range is set between $0.170 and $0.172.
- Resistance was tested and rejected at $0.172 during active trading at 13:00 (193M).
- At the end of the session, trading volume increased to 18.7 million; the price held at $0.170.
- The symmetrical triangle is narrowing and analysts are forecasting a potential 60% move on a breakout.
- RSI fluctuates around 50; MACD is smoothed – indicators
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