19 hour ago
1 0
Dogecoin Price Could Rally 96% on Falling Wedge Breakout
Dogecoin has been in a declining phase for the past 30 days, forming lower highs and lows. Recent technical analysis by Clifton Fx indicates a potential shift due to a falling wedge pattern on the 12-hour chart.
Key Observations
- The falling wedge shows downward-sloping trendlines converging, hinting at a loss of seller control and potential buyer strength.
- Dogecoin is testing the upper boundary of this wedge, suggesting a possible momentum shift.
- Recent price action created multiple green candles, rebounding from a $0.135 low.
- A breakout above the wedge could signal readiness for a sustained upward move.
Potential Rally
- If the breakout occurs with strong momentum and volume, a 96% rally is possible based on the wedge's vertical range.
- Lack of momentum might result in rejection at resistance, leading Dogecoin back to mid-$0.13 support levels.
