Dogecoin Holds $0.22 Support — $0.29 in Sight If Bulls Stay in Control

Dogecoin bounced from 0.618 Fibonacci at $0.22889, holding support amid bullish triangle pattern.

Symmetrical triangle pattern suggests potential breakout if DOGE stays above $0.22.

Analysts forecast upside targets of $0.377 and $0.421.

Dogecoin is holding at $0.22 after bouncing from a crucial Fibonacci level, a bullish triangle pattern is taking shape despite recent market pressure.While DOGE is down 2.99% today and nearly 17% this week, the setup hints at a potential rebound if support continues to hold.

Symmetrical Triangle Signals Compressed Momentum

Dogecoin is developing a symmetrical triangle pattern on the daily chart, showing signs of a technical breakout . According to crypto analyst Ali charts, the memecoin is currently hovering just above the crucial 0.618 Fibonacci retracement level at $0.22889—a known strong support.

This bounce could be the foundation for a rebound toward $0.29. The structure reflects a classic case of price compression, often seen before a breakout. Defined by higher lows and a resistance near $0.30, indicating market indecision and a potential price expansion.

The 0.786 Fib level at $0.26039 is where immediate resistance lies. A close below $0.22889 could invalidate the setup and open doors to a fall toward $0.20915.

Uptrend Still Intact, But Caution Looms

Despite a recent 22% dip in price, DOGE is still maintaining a series of higher lows—an indication that the broader uptrend remains intact.As long as the price stays above the ascending trendline, bulls retain control.

Ali’s analysis echoes similar sentiments shared by Bitcoinsensus pointing out DOGE’s long-term ascending support trendline on the weekly chart.This line has historically acted as a launchpad for rallies between 300% and 500%.

The shorter-term focus is on $0.22, and close above this level keeps the bullish scenario alive.

Breakout Potential Hinges on Momentum

For DOGE to push beyond $0.30, confirmation will be a surge in buying activity,otherwise the coin risks falling back into a consolidative phase.If DOGE pushes above $0.30, Fibonacci extensions suggest targets at $0.37788 (1.272) and $0.42132 (1.414).

Analysts are cautiously hopeful as the market stays mixed. Most altcoins, including DOGE, have been stuck in slow, sideways trading without much clear direction.

Still, this slow grind may be forming a solid base. If DOGE maintains the pattern of higher lows and stays above the $0.22 support, it remains in position for a breakout into Q4.

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