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Dogecoin Eyes Recovery from Major Trend Line: Target is $0.30?
Dogecoin (DOGE) is showing signs of maintaining an important upward trend line that has acted as support since October 2024. According to a recent analysis by @ali_charts, the pullback to the $0.14 level could provide an important accumulation opportunity before a potential breakout. The weekly chart highlights a clear technical structure, with DOGE currently trading around the $0.17 level, just slightly above the 0.5 Fibonacci retracement level.
If this support level holds, the chart indicates a recovery targeting the Fibonacci level 0.786 at $0.30, which also aligns with previous resistance areas. The trend line, extending from the late 2023 breakout of DOGE, has successfully cushioned previous pullbacks. A recovery from this zone, combined with improved sentiment in meme coins and altcoins, could mark the beginning of a higher bullish phase. However, if it cannot be maintained on this trend line, it may invalidate the setup and cause DOGE to continue to drop to the 0.13–0.12 dollar level.