TLDRDogecoin price returns to December 2020 levels, with analyst CryptoKaleo noting similar trend patterns that preceded a 36,000% rallyDOGE surged 19.7% in two weeks, outperforming Bitcoin’s 8.75% gain during the same periodPrice broke through key resistance at $0.196, with next target at $0.23-$0.25 supply zoneA repeat of the 2020 rally would push DOGE to $72, requiring over $2 trillion market cap – considered highly unlikelyTechnical indicators show bullish momentum with higher lows and higher highs pattern since June 22The Dogecoin price has climbed back to levels not seen since December 2020, according to crypto analyst CryptoKaleo. This development has traders watching closely for signs of another major rally.Back in December 2020, DOGE was trading in a similar pattern before experiencing a massive 36,000% surge. That historic rally was sparked by social media posts from billionaire Elon Musk.The analyst’s chart shows DOGE following a comparable trend line to four years ago. After hitting a previous all-time high, the price declined along a downward trend before finding bottom.CryptoKaleo suggests the current price action mirrors that 2020 setup. The meme coin appears to be marking another bottom after breaking down within the trendline.Technical Breakouts Signal MomentumRecent price action shows strong technical momentum for Dogecoin. The cryptocurrency gained 19.7% over two weeks, significantly outperforming Bitcoin’s 8.75% increase.Dogecoin Price on CoinGeckoDOGE successfully broke through the $0.173 resistance level that had blocked advances in early July. The breakthrough came as Bitcoin hit new all-time highs, lifting the broader crypto market.The more challenging test arrived at $0.196, where a bearish order block from mid-June created resistance. On July 11, DOGE pushed through this supply zone.That $0.196 level now appears ready to flip into support. This creates a potential bounce point for future price movements.The daily chart reveals a bullish pattern forming since June 22. DOGE has been creating higher lows and higher highs consistently through July.One concern emerges from the On-Balance Volume indicator. The OBV remains below June highs, suggesting buying pressure may be weakening.Price Targets and Market RealityCryptoKaleo’s analysis points to potential targets of $1 to $2.4 if the 2020 pattern repeats. The $1 mark appears achievable based on current market conditions.A full repeat of the 36,000% rally would push DOGE to $72 per coin. This would require the market cap to exceed $2 trillion.Such a valuation seems extremely unlikely given Dogecoin’s unlimited supply. The cryptocurrency continues to mint new coins regularly, creating constant inflation.Near-term targets appear more realistic. The liquidation heatmap indicates a magnetic zone around $0.23-$0.25.Traders expect DOGE to move toward this supply zone, representing approximately 27% upside from current levels. The $0.19 area shows as a potential support if prices dip.Market participants are positioning for range-bound trading between these levels. Long positions near mid-range with targets at $0.25 appear favored.The setup requires continued demand flow to sustain upward momentum. Bitcoin’s performance will likely influence DOGE’s ability to reach higher targets.Current price action shows DOGE trading above $0.2 with a clean break of resistance. The next major test arrives at the $0.25 level where sellers may emerge.The post Dogecoin (DOGE) Price: 19.7% Two-Week Rally Breaks Through $0.196 Resistance Level appeared first on Blockonomi.