Dogecoin Gains Over 2% After Forming Bullish Double Bottom Pattern
Dogecoin (DOGE) has shown signs of recovery, forming a bullish double bottom pattern. Key points include:
- DOGE increased over 2%, trading above 16 cents, recovering from a drop to 15.67 cents.
- The double bottom pattern formed around the 15.7-15.8 cents zone with high volume.
- This movement coincides with Bitcoin's rebound to $107,000 from $105,200.
- A bullish trend change is indicated by a move above the previous high of 17 cents established over the weekend.
- The broader bearish trend, characterized by lower highs since May, remains intact unless the price surpasses 17 cents.
Key AI insights
- DOGE formed a double bottom pattern around $0.157-$0.158 with above-average volume on July 1.
- The cryptocurrency closed at $0.161, indicating buyer interest.
- In the last hour of July 2, DOGE rose from $0.1605 to $0.1611, a 0.36% gain.
- Volume spikes during this period confirmed strong buying activity.
- After peaking at $0.1611, DOGE briefly pulled back but recovered to close at $0.1611.