Dogecoin (DOGE) price has broken free from its declining trend line that has defined the dominant bearish trend for nearly a year.
Dogecoin price approaches the $0.0814 critical hurdle, which could make or break the meme coin. The next weekly candlestick close is make or break for DOGE and could trigger a breakout move. Investors can expect a quick 17% rally to $0.0814, clearing which will propel the meme coin to $0.106. The breakout, while pivotal, needs to clear one more critical hurdle before DOGE can take off.
-day chart On the other hand, if Dogecoin price gets rejected at $0.0707, it could threaten a steep correction. For a bullish thesis to face invalidation, DOGE needs to produce a weekly candlestick close below $0.0573, which would produce a lower low and signal a continuation of the downtrend. In such a case, Dogecoin price could slip 16% and tag the $0.0495 support level.
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