Crypto analyst CobraVanguard has revealed the next price target for Dogecoin as an ascending triangle forms for the foremost meme coin. A rally to this price target could pave the way for the new highs, especially with the crypto market looking to be in rebound mode. 

Next Target For Dogecoin As Ascending Triangle Forms

In a TradingView post, CobraVanguard set $0.197 as the next target for the Dogecoin price with an ascending triangle forming. He noted that this ascending triangle indicates a potential price increase. The analyst added that it is anticipated that the price could rise, aligning with the projected price movement of AB=CD.

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Meanwhile, CobraVanguard warned that it is crucial to wait for the triangle to break before taking any action. His accompanying chart showed that Dogecoin needs to break above $0.177 to confirm a break above the ascending triangle. A break above that target would then lead to a rally to the $0.197 target. 

Dogecoin already looks to be in rebound mode at the moment, alongside Bitcoin, which is nearing the $90,000 mark again. The foremost meme coin is nearing the $0.177 target for a break above the ascending triangle. As crypto analyst Kevin Capital suggested, DOGE will likely rally as long as BTC is in bullish territory. 

Crypto traders are also betting on a Dogecoin rally to the upside. Crypto analyst Ali Martinez revealed that 76.26% of traders with open DOGE positions on Binance futures are leaning bullish. This is particularly bullish because Binance traders have a good track record of being right most of the time. In another X post, Martinez revealed that whales bought over 120 million DOGE last week, which is also bullish for the foremost meme coin. 

DOGE’s Market Structure Has Shifted

In an X post, crypto analyst Trader Tardigrade revealed that Dogecoin’s market structure has shifted. This came as he noted that Dogecoin is recovering from an ascending triangle, forming higher highs and higher lows from lower highs and lower lows.

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Based on this, the analyst affirmed that Dogecoin had shifted the market structure from a downtrend to an uptrend on the hourly chart since it just formed the second higher high. His accompanying chart showed that DOGE is eyeing a rally to $0.177 as it continues to form higher highs. 

Martinez raised the possibility of the Dogecoin price rallying to as high as $4 or even $20 in the long term. He stated that if DOGE holds above the $0.16 support at the lower boundary of an ascending channel, history suggests that it could rebound toward the mid-range at $4 or upper range at around $20. 

At the time of writing, the Dogecoin price is trading at around $0.174, up over 3% in the last 24 hours, according to data from CoinMarketCap.

Featured image from Pexels, chart from Tradingview.com

A recently published Dogecoin (DOGE) chart by analyst Paul (@Zig_ZagTrades) suggests that the popular meme-based cryptocurrency could slide as low as $0.12 in a final corrective phase before attempting a significant rebound. The 1-day chart, shared on X, outlines a textbook Elliott Wave structure that Paul interprets as a larger (A)–(B)–(C) correction, culminating in a potential Wave 2 near the $0.12–$0.15 region.

More Downside For Dogecoin Ahead?

In Paul’s analysis, Dogecoin has been tracing a five-subwave decline since reaching a prominent peak labeled as Wave 1 on his chart. This top coincided with a multi-day surge that lost momentum and reversed lower, leading to a series of smaller waves marked as 1, 2, 3, 4, and now 5. The analyst indicates that this fifth and final subwave is likely concluding a broader C wave (or 2nd wave if counting at a higher degree). Paul’s notations highlight a “GZ” (a “Golden Zone” commonly used by traders to pinpoint Fibonacci support clusters), and his markings pinpoint Fibonacci ratios that could define DOGE’s near-term floor.

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The chart shows a cluster of key retracement levels spanning from $0.16 down to the mid-$0.11 range. Paul highlights Fibonacci levels at 61.8% around $0.160257 and $0.150508, alongside deeper retracements at 78.6% near $0.118726 and a 100% projection around $0.126709. These numeric zones appear to bracket the “GZ” in which Paul believes DOGE may complete its final subwave. According to the chart, the $0.12–$0.15 pocket stands out as the most critical price territory for bulls seeking to halt the ongoing downtrend.

The path from the current price region toward this lower objective is labeled with a subwave count that suggests a final push beneath prior lows. Candlestick patterns on the chart confirm a sequence of lower highs and lower lows in recent weeks, a sign that the bearish momentum remains intact. Volume bars at the bottom indicate steady selling pressure accompanying downward impulses, in line with the view that DOGE could still be carving out its terminal leg of the correction.

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Paul’s use of Ichimoku Cloud settings shows that the price has consistently traded below the cloud since late January, indicating that DOGE has yet to reestablish any bullish momentum. The shaded green cloud area on his chart appears to have acted as dynamic resistance, backing up the notion that the market has remained in a corrective posture for several weeks. The analyst’s labeling of the waves beyond the purported bottom, marked as (1) to (5), suggests an expectation of an eventual upward cycle if and when the coin finds support in the “GZ” zone.

While the chart projects a subsequent rally from the anticipated low, no guarantees exist that DOGE will definitely hold the $0.12–$0.15 band. Failure to do so would theoretically extend the corrective pattern and undermine the bullish wave count, but Paul’s annotation implies that he sees the current downswing as a last flush of sellers. In his own words, “DOGE 1D: A Subwave 5 drop setting up a wave C/2 finish in the GZ for DOGE,” suggests an expectation of a local bottom in this area, although the market’s overall direction will hinge on whether enough buyers step in at those Fibonacci levels.

At press time, DOGE traded at $0.17

Featured image created with DALL.E, chart from TradingView.com

The Dogecoin price may be in for more pain, as a crypto analyst has projected another significant breakdown to new lows. On the bright side, the analyst suggests that this retracement will offer a discount for traders who aim to capitalize on the buy-dip opportunities and accumulate ahead of a potential increase. 

If it fails to break a key resistance area, the Dogecoin price could see another major drop to new lows at $0.125. According to TradingView crypto analyst Dave Hunter, this bearish outlook is a more likely scenario for Dogecoin, considering its current market performance and volatility.

Dogecoin Price Set To Retrace To $0.125 Discount

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The red horizontal line at $0.24 marks an order block, which is the critical resistance level at which Dogecoin’s price is set to react. The analyst urges traders to withhold buying more Dogecoin until it attempts a short-term retracement to this area.

Given the weakened state of the market, Hunter emphasized that shorting should take more precedence for traders. The reason is probably because Dogecoin has been in a declining state for weeks now, and initiating a sell-off would help traders prevent further financial losses, especially since additional slips in the meme coin’s value are expected. 

The TradingView analyst warns that liquidity sweeps from lower levels may occur, meaning stop-losses of long positions may be triggered, fueling more selling pressure. Typically, an increase in selling pressure for any cryptocurrency often fuels volatility, potentially leading to a price drop as demand decreases. 

While he shared his bearish forecast for Dogecoin, Hunter also mentioned Dogecoin’s Central Liquidity Score (CLS) and market timing for traders. He highlighted that smart money operates in specific cycles, and traders should consider aligning their market entries with these CLS-based liquidity ranges to limit trade risks. 

DOGE Rebound Incoming: Buy Signal Confirmed

In other news, Dogecoin could be getting ready for a potential price rebound, as its TD Sequential just flashed a buy signal on its daily chart. Renowned crypto analyst Ali Martinez highlighted this discovery on February 27 in an X (former Twitter) post.

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The analyst’s chart indicated a 9 TD Sequential, which typically appears after nine consecutive downward candles and signals a potential trend reversal to the upside. The S13, indicated by the green arrow on the chart, also reinforces this rebound outlook. If the trend holds, Martinez believes Dogecoin could see a major upward movement from its current price of $0.21 soon.

Featured image from Adobe Stock, chart from Tradingview.com