Dogecoin price prediction: DOGE is nearing a level where it could succeed or fail – The incident could become silly.

Dogecoin (DOGE) is once again testing a crucial historical support zone—the same level that marked the market bottom in mid-April—setting the stage for a critical moment that could reinforce or break the current Dogecoin price forecast. Since the meme coin peaked in mid-May, a 30% drop has put this important level back in question, with the level of $0.168 being seen as a key point that could occur. According to the famous analyst Ali Charts from X, this level aligns with the lower boundary of an important symmetrical triangle - a breakout from it could trigger a 30% retracement.

Below $0.168 is a dangerous "gap zone"—a price range with sparse prior buying activity, creating little historical support to limit the downward trend. Dogecoin price analysis: The situation here could get worse. Looking further, the symmetrical triangle that Martinez noted contributes to the formation of a wider cup and handle pattern over 4 years, with lower support breaking through the handle.

This creates a potential confluence zone between the key support threshold and the upper resistance threshold of the descending channel forming the handle—a potential breakout setup. The confirmed breakthrough will target a technical level of around $0.75 - an astonishing increase of 350% from the current level according to the Fibonacci extension of 1.618. However, this upward trend is only valid if the support level of $0.168 is maintained and the momentum indicators do not create confidence. The gold crossover since May has proven to be short-lived as the MACD line widened the gap below the signal line after the death cross at the beginning of June—a sign that the long-term bearish trend is prevailing. The RSI index also shows that buying pressure is weakening, continuing to decline below the neutral line and reaching the current position of 42. If DOGE has a weekly closing candle below $0.168, the next major support zone for Dogecoin will be around $0.90, with the most recent test occurring in mid-2024. Since then, all attention has focused on the decision regarding the spot Dogecoin ETF by the United States on June 15, which could provide the external catalyst that DOGE needs, opening the door for capital flows from traditional investment markets if approved.