Dogecoin Forms Ascending Triangle Pattern with Target at $0.285
Dogecoin (DOGE) is forming an Ascending Triangle pattern on its daily chart, indicating a potential bullish breakout. A crypto analyst, Trader Tardigrade, forecasts that DOGE could reach $0.285 following this breakout.
Key Analysis Points
- Ascending Triangle structure identified on the daily timeframe.
- Breakout expected as DOGE has made four touches on the triangle's boundaries.
- Current price is $0.206, with a potential 42.5% increase forecasted.
- A converging wedge pattern on the H4 chart supports the bullish outlook.
- Price action currently respects upper and lower trendline boundaries.
- Focus on support line critical for determining next major move.
The projected path suggests a minor retest before a breakout could push DOGE past $0.285 towards $0.29, signaling renewed upward momentum.
