Dogecoin Shows Key Signals Indicating Potential Price Upsurge
Dogecoin (DOGE) is showing potential for upward movement based on recent technical analysis. Key points include:
- Gradually rising lows and strong support levels indicate a foundation for growth.
- DOGE is forming an ascending wedge pattern on the 30-minute chart, trading around $0.17397 while testing the 200-period moving average.
- A critical support zone is noted at $0.16424, reinforcing the current uptrend.
- Short-term momentum appears bullish with increasing trading volume, though caution is advised as DOGE nears the upper boundary of the wedge.
- On the daily chart, DOGE approaches a falling wedge pattern that may lead to price increases of 80–100% if a breakout occurs.
- Bulls seek confirmation for a breakout while bears try to maintain downward pressure, indicating potential volatility ahead.
