Dogecoin extended its recent uptrend this week, climbing above the $0.1120 and $0.1135 levels to hit a high of $0.1153. The move marks a clear outperformance against both Bitcoin and Ethereum, with DOGE now trading above the $0.1120 mark and its 100-hourly simple moving average. A contracting triangle pattern is taking shape on the hourly DOGE/USD chart on Kraken, with immediate support at $0.1115 — also the 61.8% Fibonacci retracement level of the latest leg up.
Triangle pattern tightens
The hourly chart shows a contracting triangle with support at $0.1115 and resistance converging near $0.1140. The 100-hour SMA near $0.1120 adds another layer of support, keeping the bullish structure intact for now. A breakout above the triangle's upper trendline would likely accelerate buying toward $0.1165 and then the $0.120 psychological level. Further resistance awaits at $0.1220 and $0.1250. On the downside, a break below $0.1115 opens the door to a pullback toward $0.1100, with the main support zone sitting at $0.1075. If DOGE loses that floor, the next downside targets are $0.1030 and $0.1020 — a move that would erase the week's gains.
Momentum cooling but still positive
The hourly MACD is losing momentum in the bullish zone, suggesting the pace of buying may be slowing. But the hourly RSI remains above 50, indicating bullish sentiment hasn't faded entirely. The narrowing triangle suggests volatility is compressing, and a breakout could come within the next 24 hours. Traders are watching whether DOGE can hold above the triangle support and resume the uptrend toward $0.120.
Outperforming the majors
The standout detail this week: Dogecoin has outperformed both Bitcoin and Ethereum during this increase. While BTC and ETH have posted modest gains, DOGE's 3%+ move has drawn attention from retail traders. The relative strength could signal further gains if buying pressure continues, though the narrowing triangle hints that a breakout or breakdown is imminent.
Next targets on the chart
The immediate test is the $0.1115 support — if it holds, a retest of $0.1150 and then $0.120 is likely. A breakdown below $0.1075, however, would flip the short-term structure bearish and likely target $0.1030. For now, DOGE is holding its ground better than the majors, but the next few sessions will determine whether this rally has legs.
