Dogecoin is compressing beneath a dense band of weekly resistance that could unlock a powerful upside continuation once cleared, according to crypto analyst The Great Mattsby (@matthughes13).
In his October 5 video, Mattsby frames the 0.618 retracement from the 2021 peak to the 2022 cycle low—marked at $0.26261—as the immediate trigger that “price is still getting rejected at,” adding: “That’s the area of interest to maybe try to close above.” Screenshots of his weekly DOGE/USDT chart show price hovering around $0.248–$0.249 at the time of recording, with a session high near $0.265 and low near $0.226, underscoring how repeatedly the market has tested the band without securing a decisive close.
Dogecoin Coils Beneath Massive Resistance
Mattsby argues the difficulty stems from confluence rather than a single line. “A big pile of resistance right here in the 24 to 26-cent zone,” he said, pointing to the lower edge of the Ichimoku Cloud and the conversion line stacked atop the 0.618. His chart annotates the Ichimoku Conversion Line at ~$0.2512, with clustered simple moving averages just beneath and around it—~$0.2464 and ~$0.2453—creating a narrow corridor where rallies stall and pullbacks find immediate bids.
He also flags the cloud ceiling as the last gate before momentum expansion; while he verbally referenced “around 28 cents,” the screenshotted weekly readout places Ichimoku Leading Span B near ~$0.2937, effectively defining a resistance shelf running from roughly $0.26 up to the high-$0.28s–$0.29s.
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Despite the stall, Mattsby is clear that the structure has turned constructive. “It was a beautiful breakout back test of this orange arc… and ever since that bottom in April, it’s higher highs, higher low, higher high, higher low. So, it is the market structure that is required to break out.”
He expects more time within the range but anticipates an impulsive resolution once the lid gives way: “One of these weeks we might be able to see like a bullish engulfing candle just breaking through multiple levels and just continuing higher.” In his words, “Not ready to break free just yet, but the setup is there… a little bit more patience, but it’s setting up perfectly to go higher.”
The screenshots anchor both the upside roadmap and the invalidation rungs. Overhead, the Fibonacci stack above the 0.618 pins subsequent hurdles at the 0.702 (~$0.3298), 0.786 (~$0.4142), 0.886 (~$0.5432) levels as well as the all-time high at 0.73995—zones that historically attract profit-taking and trend acceleration when reclaimed in strong cycles.
Below, the weekly Ichimoku scaffolding outlines support stair-steps at Leading Span A (~$0.2348) and the Base Line (~$0.2184), aligning with Mattsby’s preferred “accumulation” pocket. “I love this 24-cent zone, maybe even down to the 22-cent zone. That area of support looks beautiful for accumulation until it’s ready to break free,” he said. Deeper, the mid-cycle retracement marks line up at 0.500 (~$0.1907), 0.382 (~$0.1385) and 0.236 (~$0.0932).
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Mattsby also reiterates the role of the weekly 50-period moving average as an active barrier within the same band, emphasizing that DOGE is “still battling that as a potential resistance trying to flip it all to support.” The proximity of the 50-week to the conversion line and the 0.618 fib is part of what makes the cluster decisive: a weekly close through $0.26261 that also recaptures the conversion line and neutralizes the cloud’s lower boundary would simultaneously flip multiple filters—momentum, trend, and mean—into alignment.
The bottom line of his roadmap is unambiguous. The market is coiling directly beneath the $0.26 trigger while building a rising base above $0.22–$0.24. The analyst’s expectation is for continued high-level consolidation until an outsized candle resolves the stalemate. “It’s almost ready—just not yet,” he concluded. “It’s not if, it is when… once that barrier breaks, the true excitement can begin.”
At press time, DOGE traded at $0.25671.
Featured image created with DALL.E, chart from TradingView.com
