Dogecoin (DOGE) Price: Triangle Breakout Coming? Analyst Sees a Big Move Ahead

TLDR

• DOGE dropped below $0.0930, hitting a low near $0.0903
• Price is trading below the 100-hourly simple moving average
• A descending triangle has formed on the 4-hour chart
• Analyst Ali Martinez says chances of a 30% move are rising
• MACD flashed a “Buy” signal; RSI and Bull Bear Power remain Neutral

Dogecoin has pulled back after failing to hold the $0.0930 level. The price dropped through key support zones, touching a low of $0.0903 before a small recovery. DOGE is now trading below $0.0920 and the 100-hourly simple moving average.

A bullish trend line at $0.0925 was broken on the hourly chart, adding pressure to the short-term outlook. The recovery bounce stalled below the 23.6% Fibonacci retracement of the drop from $0.0948 to $0.0903.

On the upside, the first resistance sits at $0.0925, which lines up with the 50% Fibonacci level of that same move. Beyond that, $0.0930 and $0.0938 are the next barriers. A move past those could open the door to $0.0950 and $0.0980.

On the downside, $0.0905 is the first support. Below that sits $0.0900, with the main floor at $0.0880. A break under $0.0880 could push DOGE toward $0.0820 or even $0.0800.

Analyst Flags 30% Move Potential

Crypto analyst Ali Martinez posted on X on April 12, pointing to a descending triangle on DOGE’s 4-hour chart. Martinez wrote: “As Dogecoin $DOGE moves closer to the apex of this triangle, the chances of a 30% move increase substantially.” Martinez did not specify a direction for the move. If the move is to the upside, a 30% gain would put DOGE near $0.11, revisiting levels last seen in early February.

This is not the first time Martinez has highlighted this pattern. They have referenced this triangle setup repeatedly in recent analysis.

Derivatives and Indicators

Open interest in DOGE futures rose 1.61% over the last 24 hours, according to Coinglass. Rising open interest during sideways price action often points to a consolidation phase before a larger move.

Whale traders in the derivatives market stayed bullish. Retail sentiment shifted to “Neutral.”

The MACD indicator flashed a “Buy” signal for DOGE on TradingView. The Bull Bear Power indicator remained Neutral, as did the Relative Strength Index.

Dogecoin has largely moved sideways this month, with broader market pressure keeping it range-bound. Open interest in DOGE futures rose 1.61% in the last 24 hours, per Coinglass data.

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