Dogecoin Anticipated to Break Out Within Next Seven Days
The Dogecoin (DOGE) market shows signs of a bullish reversal after six months, according to a chart from Bitcoinsensus. Key points include:
- Dogecoin's price action has formed a descending trend line that connects major swing highs.
- Current trend line is just above the market, indicating potential breakout within 7 days.
- An inverted head-and-shoulders pattern has formed, with a neckline above $0.185.
- The recent price retracement respects this neckline, now acting as support.
- Projected path suggests one more dip near $0.23–$0.24 before a potential upward momentum shift.
- A breakout could target the supply zone between $0.42 and $0.43.
- A daily close above this range would indicate a significant trend reversal.
- If DOGE closes below $0.185, the bullish structure may invalidate.
As of now, DOGE is trading at $0.221.
