Dogecoin is trading at $0.1654, up 4% over the week, with analysts pointing out a bullish ascending channel and ideal buy levels.
Market analysts suggest that accumulating near the edge of the lower channel in Dogecoin has historically yielded significant returns as prices moved towards the higher trendline.
Trader Tardigrade notes that Dogecoin has touched the lower boundary of an ascending channel for the third time, indicating a low-risk entry point and potential breakout rallies.
Dogecoin's price action suggests a multi-year bullish channel pattern, with price bouncing off the bottom line before reaching higher highs, indicating a positive market trend.