Dogecoin (DOGE) Price Eyes 31% Move as Descending Triangle Patterns Signals Imminent Break

Key Takeaways

• DOGE completed a long corrective Z wave structure.
• Wave (iv) correction may be ending at $0.215 support.
• Wave (v) targets lie between $0.26 and $0.28.

DOGE has completed a long corrective W-X-Y-X-Z structure on the higher time frame and appears to be transitioning into a new impulsive bullish wave.

The price consolidates after a sharp rally, retracing to key Fibonacci and structural support levels.

Elliott Wave counts suggest the completion of wave (iv), with wave (v) possibly beginning soon. If confirmed, this would offer a bullish setup.

DOGE Price Analysis

The 4-hour DOGE chart shows the completion of a long-term W-X-Y-X-Z corrective decline, bottoming at $0.131 on April 7.

This low marked the start of a sharp upward move, breaking out from the descending wedge and invalidating the prior bearish market structure.

A significant impulse followed, with DOGE topping at nearly $0.26, at the 0.382 Fibonacci level and starting to consolidate.

The retracement aligns with the 0.236 Fibonacci level at $0.214 and is now testing this zone as support.

The Relative Strength Index (RSI) remains in neutral territory around 50, suggesting that price action is cooling off from overbought levels without entering bearish momentum.

DOGE is also testing a previous resistance-turned-support horizontal zone near $0.215–$0.220, which provides a confluence of support alongside Fibonacci levels.

If this zone holds, it could confirm the start of wave (v) toward new local highs. Failure to maintain this support would expose DOGE to a deeper retracement, potentially revisiting $0.18 or lower.

The structure and momentum indicators point toward a healthy correction within a broader uptrend, but higher lows and a consolidation breakout are needed to confirm this.

DOGE Price Prediction

On the 1-hour chart, DOGE has been forming a descending triangle that appears to be completing its final leg wave (e) of a (a)-(b)-(c)-(d)-(e) correction count.

This pattern typically precedes a breakout and trend continuation.

The current support zone near $0.215 aligns with the horizontal structure and the Fibonacci 0.236 level, giving a strong foundation for a bullish reversal.

Wave (iv) appears nearly complete, having retraced from the $0.265 high to the $0.215 zone.

Once the (e) leg finishes, a new bullish wave (V) could target key Fibonacci extensions.

Based on wave (iii) height of 1.618 extension targets $0.258, the next move could bring DOGE to 2.0 extension at $0.280 which would be around 31% increase from the current levels.

The RSI on the 1-hour timeframe is nearly oversold, supporting the idea of an upcoming bounce.

If DOGE confirms the bounce by reclaiming $0.223 and making an upward breakout, it would signal the continuation of bullish momentum, likely pushing the price into the $0.25–$0.28 zone.

The bullish outlook would be invalidated if DOGE breaks down below $0.214 with volume, possibly revisiting the $0.20–$0.18 range.

Until then, bulls appear to be positioning for a new upward leg.

Key Levels to Watch

• Support: $0.214, $0.200, $0.165.
• Resistance: $0.223, $0.258, $0.280, $0.307.
• Invalidation: Below $0.214 (breakout structure fails).