The analyst’s chart highlights that a successful bounce from the current zone could drive Dogecoin’s price back towards the upper trendline. A sustained move above $0.18 could be the first sign of this possibility, especially if it is accompanied by an increase in trading volume.
Dogecoin’s price is hovering right within the circled region on the chart, which means that it is testing the lower support line of the triangle. The past few weekly candles show that buyers have defended the lower range, preventing a deeper correction.
If Dogecoin manages to bounce at the lower trendline, then the next outlook would be a push upwards. However, the meme coin still has a long climb ahead before testing the resistance area between $0.30 and $0.33.
