Dogecoin Forms Triangle Pattern That May Lead to 40% Price Move
An analyst highlighted that Dogecoin is forming a symmetrical triangle pattern, indicating a potential 40% price move.
Key Points
- Dogecoin's price is currently consolidating within a symmetrical triangle.
- The upper line serves as resistance and the lower line as support.
- A breakout from either boundary could lead to a sustained trend in that direction.
- The price has recently been rejected at the upper level of the triangle.
- As it approaches the apex, the likelihood of a breakout increases.
- The direction of the potential move remains uncertain due to the symmetrical nature of the pattern.
- Current trading price for Dogecoin is approximately $0.21, down over 3% in the past week.
