DOGE shows a "BCD bottom" pattern, which may lead to a bull run reversal.

The trading price of DOGE on Wednesday was $0.172, up 4.57% in the past 24 hours. Over the past week, its price increased by 0.38%, with a total market value reaching $25.68 billion. This slight rise occurred as analysts closely monitored market changes.
A chart released by a cryptocurrency analyst shows signs of a "diamond bottom" formation on the daily chart for DOGE. This formation extends between $0.128 and $0.190, indicating a potential bullish reversal after several weeks of downward pressure. The price has been consolidating within this range, and traders are watching for a breakout point.
A breakthrough is expected to occur around $0.174, marking the end of the consolidation phase. If this level is supported and momentum continues, the price could reach $0.275, representing a potential surge of 59.88% from the current level. The dashed green arrow on the chart also suggests that the price could further rise to $0.35, bringing additional optimism for those betting on a rebound.
Chart patterns and ETFs drive optimistic sentiment
Another analyst pointed out that the coin tested the support level of $0.167. He commented, "Holding this level could trigger a rebound to $0.175, or even $0.183." This key area has been a battleground for bulls and bears, and the outcome may set the tone for the near term.
Meanwhile, analysts using pseudonyms shared that the price of DOGE is tracking an ascending wedge pattern that has been unfolding since 2023. This wedge pattern indicates a long-term upward trend that could take it to new heights. If this pattern fully unfolds, DOGE may reach a historical high of $1.161.
In addition to chart patterns, rumors surrounding a potential Dogecoin ETF are also heating up. Asset management companies such as Bitwise, 21Shares, Grayscale, and REX Shares have submitted applications to the U.S. Securities and Exchange Commission seeking approval to launch a Dogecoin ETF. Market platform Polymarket reports that the likelihood of approval has increased by 25%, with analysts estimating a 63% chance of the ETF being approved by the end of 2025.
The price volatility of DOGE is tightening.
Currently, the price of Dogecoin is hovering around the mid-Bollinger band at $0.17316. The narrowing of the Bollinger Bands suggests that volatility has contracted, suggesting that a breakout may be imminent. Neither buyers nor sellers seem to have a clear advantage, and many are waiting for a trigger to decisively push the price in any direction.
Adding insult to injury, the relative strength index is around 50.72. This neutral reading indicates that the market is indecisive, with no strong momentum for either an upward or downward movement. A rise above 55 may suggest a return of bullish strength, while a drop below 45 could indicate an increase in bearish pressure.
The Moving Average Convergence Divergence (MACD) line recently fell below the signal line, and the histogram dropped to a negative value area of -0.00045. This crossover indicates a weakening of buying pressure, raising caution regarding potential downside risks. If this bearish momentum continues, prices may face further declines in the short term.
Breaking above $0.19 may alleviate bearish concerns and pave the way for further gains. However, a drop below $0.155 could hand control back to sellers and signal a new downward momentum. #DOGE#