Catch Revealed as New Bullish Pattern Propels Dogecoin Price for 15% Upswing

Dogecoin’s ongoing recovery rally hit a minor roadblock at the $0.079 level as market sentiment struggled, but consolidation has led to the formation of a bullish ascending triangle pattern in the 4-hour timeframe chart. If the market sentiment improves, a potential bullish breakout from $0.079 could lead to a 10% rise in DOGE price to reach the $0.09 psychological barrier. However, a breakdown below the support trendline would invalidate the bullish thesis. The daily EMAs (50, 100, and 200) moving near the $0.074 level also indicate multiple hurdles for buyers on the upsides, and the 4-hour RSI slope dropping lower indicates weakness in underlying bullish momentum. Therefore, interested traders should wait for a breakout of $0.079 barriers before entering a long position. The 24-hour trading volume in Dogecoin is $257.2 billion, indicating a 10% loss.

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About The Author

Niels I have been passionate about dogecoin since 2019, and have since become an avid follower and advocate of the cryptocurrency. I keep a close eye on the Dogecoin market and trends, and I'm always up-to-date with the latest news and developments. As a true believer in the potential of dogecoin, I am excited to be a part of the growing community and I'm eager to share my knowledge and experience with others. When not busy with dogecoin, I enjoy golf, and I can often be found on the golf course.

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