Dogecoin (DOGE) experienced a significant sell-off this week, dropping around 7% over the past seven days and currently trading near $0.13. Despite short-term pressure, analysts note that its long-term technical structure remains strong, with a key resistance level around $0.50. A decisive break above the $0.48–$0.50 zone could confirm a long-term bullish pattern, potentially opening upward momentum with an initial target of $1.88.

On the weekly chart, DOGE has been forming a large expanding triangle and a multi-year "cup and handle" pattern. Recent pullbacks haven’t broken this structure. Key momentum indicators like RSI and MACD are showing signs of recovery, suggesting a possible trend reversal. A breakout could lead to targets between $0.72–$0.88 and later $1.80–$2.20, with longer-term potential toward $4–$6.

On shorter timeframes, a potential inverse head and shoulders pattern is forming, indicating weakening selling pressure and a possible rebound. Additionally, real-world adoption is growing, with Argentina approving DOGE for tax payments and Alternative Airlines accepting it for flight tickets, supporting its fundamental utility.

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<p>Dogecoin (DOGE) experienced significant selling pressure this week, with its price dropping approximately 7% over the past seven days. It is trading around $0.13, down about 5% in the past 24 hours. Despite short-term pressure, market analysis suggests that its long-term technical structure remains solid, with a key resistance level around $0.50.</p>
<p>Analysts point out that if the price can effectively break through the critical $0.48–$0.50 zone, it would confirm a long-term bullish pattern, potentially opening up further upside, with the first target at $1.88.</p>
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<p>From a technical perspective:</p>
<p>Since its 2021 peak, Dogecoin has been trading within an expanding triangle consolidation range, with the current price again approaching the lower trend support. On the weekly chart, a multi-year "cup and handle" pattern has largely formed, and the recent pullback has not disrupted this structure. With shrinking volume and recovering momentum indicators, the high-timeframe RSI has retreated to near the neutral level of 50, similar to the conditions before the 2021 surge. Meanwhile, the weekly and monthly MACD are nearing a bullish crossover, hinting at a potential trend reversal.</p>
<p>Once a breakout above the $0.50 resistance is confirmed, the subsequent move could unfold in phases!</p>
<p>The first target lies in the $0.72–$0.88 range, which aligns with previous highs and historical test levels. Mid-term, it could further test $1.80–$2.20. If market sentiment remains optimistic, the long-term technical structure even leaves room for prices to potentially reach $4–$6.</p>
<p>In the short term, the 4-hour chart suggests Dogecoin may be forming an "inverse head and shoulders" pattern, often seen as a trend reversal signal indicating weakening downward momentum and a potential rebound. Traders note that if it can hold above key resistance levels, the price might enter an accelerated upward phase.</p>
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<p>Beyond technicals, Dogecoin is making progress in practical applications:</p>
<p>Argentina has approved the use of Dogecoin for paying certain taxes, and airline Alternative Airlines has begun accepting DOGE for flight tickets. These developments show that Dogecoin is gradually expanding its real-world use cases, providing fundamental support for its ecosystem growth.</p>
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# Inverse Head and Shoulders Related Articles

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