Dogecoin’s channel shows path to $0.33 if support holds

As the larger part of the cryptocurrency market receives a fresh burst of optimistic energy, Dogecoin (DOGE) is at a pivotal moment where its price is clinging to key channel support around $0.18, the successful defense of which could open the path to $0.25 and potentially $0.33.

Indeed, the $0.18 level is crucial for maintaining DOGE’s long-term bullish structure, and the $0.25 – $0.33 zone represents the upper boundary of the current ascending channel, according to the analysis shared by popular crypto trading expert Ali Martinez in an X post on October 24.

$0.18 is DOGE’s make-or-break level

As it happens, the 12-hour chart shows DOGE trading within a clearly defined ascending parallel channel, which has guided price action since early 2024. Each touch on the lower trendline has historically triggered a rebound toward the mid-channel region – a pattern on the test again.

If the meme coin manages to hold above $0.18, it could see a renewed momentum toward $0.25, the channel’s midpoint and the first major resistance level. A break above that could extend the move to $0.33, representing a 70% climb from current prices. However, a decisive close below $0.18 would invalidate this bullish setup, exposing DOGE to potential downside toward $0.15 or lower.

DOGE’s wedge breakout could signal a reversal confirmation

Meanwhile, fellow crypto analyst Trader Tardigrade has observed DOGE breaking out on the 4-hour chart, confirming it has successfully defended its key horizontal support near $0.19, paving the way for a potential push toward $0.21 and beyond.

Specifically, the chart shows DOGE trading just above the wedge resistance it broke earlier this week. Historically, falling wedges are bullish reversal patterns that often form near the end of downtrends. In this case, Dogecoin’s bounce aligns with both RSI support and a key demand zone.

For the time being, DOGE is changing hands at the price of $0.1967, indicating an increase of 1.13% in the last 24 hours, a 10.54% gain across the previous seven days, albeit still a loss of 17.76% accumulated on its monthly chart, according to the most recent data.

All things considered, as long as Dogecoin remains above the $0.18 – $0.19 level, the path of least resistance appears to point upwards, especially in combination with DOGE dominance ending its 3.5-year downtrend after its final 2025 retest.