Recently, I observed the weekly trend of DOGE and found that it has returned to a critical technical level area. This area can be viewed as a bull run support zone, approximately between 0.19025 and 0.20703 dollars.

The current market situation can be summarized as 'DOGE bull run support zone retest, while validating the breakout of the diagonal bear market trend'. The weekly chart on August 3rd (based on Coinbase's DOGE/USD) clearly shows this.

It is worth noting that DOGE experienced considerable volatility this week. The opening price at the beginning of the week was $0.24076, reaching a high of $0.24860, but then retracing to a low of $0.18855, and closing slightly up at $0.19945. Overall, DOGE fell by approximately 17.15% this week. This retracement interrupted the previous two weeks of upward momentum, during which it had surpassed the $0.20 mark.

From a technical analysis perspective, in addition to the support zone, there are two important observation points:

First, there is a downward trend line that crosses the lower weekly highs. The price of DOGE broke through this line on July 16 and is currently testing above it.

Secondly, the intersection of this trend line with the bull run support zone is an area that many trend followers closely monitor. They use this point to determine whether the breakout can be sustained.

The current price pullback should be seen as a 'retest' of these two technical features, rather than a complete collapse. If this price level can continue to provide support, then buying demand near this range may allow bullish investors to maintain the advantage.

However, the future direction of the market remains uncertain. Investors should proceed with caution and closely monitor the price performance in this key area, as it could determine the direction of DOGE in the short term.