Dogecoin is consolidating within a tight range, trading below $0.18 and holding support above $0.16.
Analyst Carl Runefelt believes Dogecoin is forming a bullish pattern that could lead to a breakout and massive rally if key resistance levels are breached.
The coming days will be crucial in determining whether DOGE can reclaim higher price levels and start an uptrend, or face further downside if current support is not maintained.
To confirm a recovery, Dogecoin must push above the $0.20 resistance level, while a failure to do so may result in a decline below $0.15.