Dogecoin (dog) can be on the edge Explosive price rallyBecause the latest technical analysis shows that a popular coin can create a characteristic triangle pattern on a 4-hour chart. This stubborn pattern of continuation, combined with a reflection with Relative strength indicator (RSI)He suggests that a breakthrough may occur in the near future.
Dogecoin Eyes Breakout as Awasting Triangle creates
A growing triangle It is usually perceived as a stubborn chart pattern, formed by a horizontal resistance line connecting high ups and the growing trend line connecting lower minima. Interestingly, he has a cryptographic analyst, trader tardigrade, identified something that seems to be the rising triangle formed on Dogecoin Chart in 4 hours of time frames.
Analyzing the presented table of the analytics, the Dogecoin price price shows a series of higher low along the growing line facing the resistance at 0.334 USD at a horizontal level. This growing triangle formation suggests that buyers can gain strength, potentially leading to breakthrough If the coin violates the above level of resistance.
In particular, the lower part of the chart shows this RSI Dogecoin He recently entered Oversold, falling below 30%. RSI has been reflected and gaining a significant momentum since then, with the indicators suggest that they can take place to rise Completed zoneS above 70%. This positive shift of the shoot indicates a steady raise in purchasing pressure, which is confirmed by the possibility Dogcoin price apppecation to modern ups.
Based on the chart forecast, the Doge price may raise rapidly in a direction from 0.355 to 0.360 USD Over the rising triangle Resistance after USD 0.334. And vice versa, rejection at this level of immunity can lead to re -testing of a line rising in front of another breakthrough attempt.
What next for Doge?
Despite the reports with Coinmarketcap emphasizing price decrease Over 6% over the past week Dogecoin remains resistant, striving for modern maxims above 0.6 USD. An outstanding cryptographic analyst, identified as “Coinvo”, has announced up to over 324,000 observers that modern Dogecoin High High is inevitable.
The analyst made available a detailed table illustrating the Doge price campaign over many years in weekly time frames. He emphasized two basic levels of resistance, which suggests that the meme coin may soon raise to the modern ATH.
First Resistance levelUSD 0.015, was broken at the beginning of 2021 during the previous bull run, which led to a parabolic price raise in Dogecoin. The second level of resistance, 0.6 USD, represents the highest level of Dogecoin in 2021, which its current price seems to be approaching again.
Doge currently has trade for USD 0.33 because he has experienced extended leprosy and consolidation In the years 2022–2023. Based on historical trends, the price of my coin can get closer to its previous peak, because it is in line with a similar stubborn trajectory as Bull Bull.
A distinguished picture from Unsplash, tradingview.com chart
