According to the technical analysis published by crypto analyst Ali Martinez on social media, DOGE ( is currently at an important node in its technical trend, forming a typical symmetrical triangle consolidation pattern. This technical setup indicates that DOGE is undergoing a decisive consolidation phase.

From the technical chart perspective, the recent price movement trajectory of DOGE is constrained by two trend lines that are opposite in direction but have similar slopes. As time goes by, the price fluctuation range gradually narrows, which usually indicates that a significant price breakout may be imminent.

The symmetrical triangle, as a neutral technical pattern, is characterized by uncertainty in the direction of the breakout. Currently, the price of DOGE is approaching the end of this triangle and is testing the support strength of the lower trend line. The performance at this position will have a critical impact on the short-term trend.

Martinez particularly emphasized the key support level of $0.168 in his analysis, which corresponds to the 0.786 Fibonacci retracement level. He warned that if DOGE cannot hold this support, it may face a downside risk of about 30%. Fibonacci retracement is a technical indicator commonly used by traders to identify potential price reversal points.

Although the current price is testing the lower support, it is worth noting that the price may also bounce back and break through the upper resistance line. Unlike ascending or descending triangles that clearly favor one direction, the probability of a breakout in either direction for a symmetrical triangle is essentially equal, so investors need to remain vigilant and closely monitor the next direction of the price.