A strong tweezer bottom pattern has appeared on Dogecoinโs chart โ a classic two-bar reversal formation. This happens when two successive candles print almost identical lows after a decline, signaling that buyers stepped in to defend the same price level. In DOGEโs case, the twin lows clustered tightly around $0.265, highlighting this zone as a critical battleground.
On higher timeframes like the daily, this setup carries weight since it signals a possible inflection point without requiring a long consolidation phase.
Interestingly, the 0.382 Fibonacci retracement also aligns with this same level at $0.26537, strengthening its importance. Analysts define โholdingโ as when price may test the level intraday but still closes above it, keeping it intact as support.
This triple confluence โ pattern (tweezer bottom), retracement (Fib 0.382), and AVWAP anchoring โ makes $0.265 a high-quality level for traders to watch.
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๐ Where Could DOGE Head Next?
Immediate resistance sits at the 0.5 retracement ($0.30724), which capped the last rally.
Beyond that, the Fibonacci ladder offers targets at:
$0.34911 (0.618)
$0.40871 (0.786)
$0.44419 (0.886)
$0.48464 (1.000)
Extensions: $0.58115 (1.272) and $0.63153 (1.414)
โ ๏ธ On the flip side, if $0.265 fails on a closing basis, the next downside checkpoints are the 0.236 retracement at $0.21357 and the range bottom near $0.12984.
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The chart shared by Cantonese Cat sums it up well: Dogecoin has defended a cluster of supports around $0.265, formed a tweezer-style rebound, and is now attempting to stabilize above the Fib 0.382 retracement and cycle-high AVWAP.
๐ DOGE is at a make-or-break level โ hold $0.265, and the next leg higher could ignite. Lose it, and deeper support tests are likely.
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