TLDR
- Dogecoin is testing critical support at $0.22, which coincides with the 0.618 Fibonacci retracement level
- An ascending triangle pattern has formed since July, suggesting potential upward momentum
- If support holds, DOGE could target the triangle resistance near $0.29
- Losing the $0.22 support would invalidate the bullish scenario
- Price could consolidate between $0.24 and $0.29 before any major breakout
Dogecoin is currently trading near a key support level of $0.22, capturing the attention of crypto traders and investors. Technical analysts are watching this popular meme cryptocurrency closely as it shows signs of a potential rally if the current support holds firm.
The $0.22 price point has become a battleground for bulls and bears. This level coincides with the 0.618 Fibonacci retracement level at $0.2288, making it a technically important zone for traders.
Market watchers have identified an ascending triangle pattern that has been developing on Dogecoin’s chart since July. This pattern is often considered bullish when it appears in an uptrend.
According to analyst Ali, who shared this technical setup, DOGE is testing the critical support threshold that could determine its next major move. The current price action suggests consolidation before potentially breaking higher.
Dogecoin $DOGE must hold $0.22 for a potential rebound to the triangle’s x-axis at $0.29! pic.twitter.com/ZhgcCMAjue
— Ali (@ali_charts) September 26, 2025
The pattern shows a series of higher lows gradually pushing toward the triangle’s upper resistance level near $0.29. This structure often precedes breakout movements in the direction of the prior trend.
Support and Resistance Levels
If Dogecoin maintains the $0.22 support level, traders could see price movement toward the first resistance at $0.24. This would mark the first step in a potential rally toward higher targets.
The main resistance sits near $0.29, which represents the apex of the triangle and serves as a key horizontal barrier. Breaking through this level could open the door to further gains.
Should momentum build after breaking the triangle resistance, Dogecoin could target the $0.30-$0.32 range, with possible extensions to $0.38 and $0.42 if buying pressure remains strong.
Potential Downside Risks
The bullish scenario hinges entirely on Dogecoin maintaining support above $0.22. A failure to hold this level would invalidate the ascending triangle formation and potentially trigger a more bearish outlook.
If support fails, DOGE could see a retracement toward lower support zones at $0.20 or possibly $0.19. These levels would likely attract buyers looking for discounted entry points.
The cryptocurrency has shown resilience despite recent market volatility, suggesting there is still interest in accumulating at current price levels.
Trading volume will be a key indicator to watch as Dogecoin approaches decisive levels. Increasing volume during upward movements would validate the bullish case.
The technical setup indicates that DOGE may continue to consolidate between $0.24 and $0.29 before making its next significant move. This consolidation phase allows for accumulation and builds energy for a potential breakout.
For traders and investors, the coming weeks will be crucial in determining whether Dogecoin can defend the $0.22 support and push toward higher targets or if it will face rejection and move lower.
Dogecoin’s recent price action puts it at a technical crossroads where defending the $0.22 support level could spark a new bullish wave with the next major target at $0.29.
The post Dogecoin (DOGE) Price: Technical Analysis Shows Critical $0.22 Support Level appeared first on Blockonomi.
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This articles is written by : Nermeen Nabil Khear Abdelmalak
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