Dogecoin’s breakout from the symmetrical triangle signals strong bullish momentum. The price recently surged above the upper resistance trendline, reaching $0.33807. Analysts predict a continuation of the uptrend, with a projected target of $0.36. The breakout is in line with standard technical analysis, confirming a potential upside of 9.38%. If buyers maintain pressure, DOGE could experience further upside.

Symmetrical triangle breakout signal indicates uptrend

The symmetrical triangle created by DOGE’s price action shows a period of consolidation before a clear breakout. The market is contracting into a tightening range after a series of lower highs and higher lows. A breakout is on the horizon as the price approaches the top of the pattern.

Initially, DOGE saw a sharp decline before recovering within the confines of the triangle. Each price move respected converging trendlines, indicating reduced volatility. Finally, the breakout occurred near the bottom of the triangle, resulting in a rapid price increase. The breakout was at around $0.333, with a measured move expected to target a price near $0.36.

This technical pattern usually precedes a strong continuation of the prevailing trend. With a confirmed breakout, the likelihood of further upside momentum remains high. Additionally, traders anticipate increased trading volume, which often accompanies such breakouts.

Fibonacci Retracement shows key support zones

In addition to the breakout, Fibonacci retracement analysis provides further insight into DOGE’s price action. Analyst Rose Premium Signals has identified key support levels where DOGE could consolidate before another rally. The price recently tested Fibonacci support zones, with the 0.618 golden Fib level playing a key role.

DOGE is currently trading at $0.33416, indicating a correction after the previous decline. Key support levels are located in the $0.26412–$0.27999 and $0.20589–$0.22083 range. A confirmed bounce from these zones could push DOGE towards the resistance levels.

Expected resistance targets include T1 at $0.49784, T2 at $0.58185, and T3 at $0.66228. If history repeats itself, DOGE could see another explosive rally. Market sentiment remains bullish, with traders watching key support zones for a potential reversal.