Recently, the trading pattern of DOGE ( DOGE ) has attracted widespread attention in the market. Currently, DOGE is showing a technical formation known as a "symmetrical triangle" on the 12-hour chart. This formation consists of a series of gradually decreasing highs and gradually increasing lows, creating a converging price range, which usually indicates an upcoming strong price fluctuation.

According to industry analysts, the current trading price of DOGE is approximately $0.22, positioned in the middle of this triangular formation. It is noteworthy that this formation is expected to peak at the end of August, which could be a key turning point. If DOGE breaks through this triangular range, it could trigger a price fluctuation of up to 40%.

From a technical analysis perspective, there are several key price levels that need to be closely monitored. The level of $0.233 currently constitutes an important resistance level, while $0.218 is a key support level. These two levels correspond to the 0.618 and 0.5 levels of the Fibonacci retracement, respectively.

If DOGE can break through the resistance level of 0.233 USD, we may see the price rise to the range of 0.255 USD or even 0.287 USD. Conversely, if the price falls below the support level of 0.218 USD, it may trigger further drops.

In addition, from a longer-term monthly chart perspective, DOGE seems to be repeating a historical pattern. If this pattern continues to hold, we may see the formation of a new upward trend.

However, we must emphasize that the cryptocurrency market has always been highly volatile and full of uncertainty. While technical analysis provides us with valuable insights, investors still need to act cautiously and manage risks effectively. Neither technical patterns nor historical models can guarantee future price movements. Before making any investment decisions, it is advisable for investors to conduct comprehensive research and consider their own risk tolerance.