- Dogecoin price has broken out of a weekly downtrend channel.
- Analyst highlights a strong MACD setup supporting momentum.
- Long-term technical outlook points toward a potential $1 target.
Dogecoin price continues to trade under pressure, but some analysts remain focused on a larger bullish setup developing on the weekly chart. At press time, Dogecoin price traded at $0.0828, down 7.30% over the past 24 hours. Despite the recent decline, analyst Celal Kucuker argues that the broader structure remains constructive after a breakout from a long-term weekly downtrend channel.
Dogecoin Price Retains Weekly Breakout Despite Recent Weakness
Celal Kucuker highlighted two factors supporting a longer-term recovery case. The analyst pointed to a completed breakout from the weekly descending channel and a favorable MACD structure. Historically, such breakouts can signal a shift from prolonged weakness to a new accumulation phase.
The analyst also suggested that a move toward the $1 level remains possible if the larger trend continues developing. While that target remains far above current prices, it reflects growing optimism among some market observers who focus on long-term chart patterns rather than short-term volatility.
Dogecoin price has struggled in recent weeks, falling nearly 13% over the past seven days. Even so, the weekly breakout remains intact as long as key higher-timeframe support zones continue holding.
Dogecoin Price Approaches Demand Zone as Traders Seek Confirmation
Other analysts remain cautious in the near term. Erick Crypto noted that DOGE recently lost the key $0.085 support zone, allowing sellers to take control of price action. Rising trading volume during the decline suggests active market participation.
Meanwhile, analyst Pipfessor believes Dogecoin’s price is repeating a familiar cycle of decline, base formation, and eventual expansion. According to that analysis, DOGE could still revisit the $0.078 to $0.073 demand region before establishing a stronger foundation.
This area aligns with previous accumulation zones that supported major rallies. If Dogecoin price stabilizes there, traders may begin watching for signs of renewed buying interest.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.