Dogecoin Develops Inverse Head and Shoulders Pattern Aiming for $0.25
Dogecoin has decreased by 6.11% over the past week, currently trading at $0.2245. Despite this decline, a bullish pattern has emerged on the 1-hour candlestick chart.
- An inverse head and shoulders pattern has been identified by analyst Klejdi Cuni, indicating potential for short-term bullish movement.
- The left shoulder is nearing completion, with resistance around $0.228. A breakout above this level could trigger upward momentum.
- Short-term targets include $0.239 and $0.25. Breaching $0.239 could lead to further gains toward $0.3 and higher.
- Failure to maintain the breakout zone or a drop below $0.222 could result in retesting lower levels around $0.21.
Confirmation of the breakout is crucial for validating the bullish outlook.
