Dogecoin Breaks Above Bull Pennant Resistance With Target at $0.31
Dogecoin has recently shown a breakout from a Bull Pennant pattern, indicating potential upward momentum. Here are the key points:
- Analyst Ali Martinez identified a Bull Pennant formation in Dogecoin's hourly price chart.
- The Bull Pennant indicates consolidation between two converging trendlines after a sharp price movement.
- A breakout typically continues in the direction of the prior move.
- The target for this breakout is approximately $0.31, suggesting a potential increase of nearly 30% from the current price.
- As of now, Dogecoin is trading at around $0.239, with a weekly gain of about 6%.
