Doge Smashes Triangle Pattern: Next stop $ 0.31?

Doge Smashes Triangle Pattern: Next stop $ 0.31?

TL; Dr.

  • Dogecoin breaks the triangle of $ 0.24, with the Fibonacci levels that indicate possible rally to $ 0.31.
  • Analysts highlight the repeated long -term cycles of Doge, which suggests a potential breakdown above their maximum previous of $ 0.73 all time.
  • The liquidity data show clear shorts, with Doge with $ 0.25 of support and resistance to the observation about $ 0.26.

Rupture of the symmetric triangle

Dogecoin (Doge) has left a symmetrical triangle pattern after several weeks of consolidation. The rupture took place near the level of $ 0.24, sending the highest price and confirming an upward configuration.

At the time of writing this article, Dege is quoted at $ 0.25, backed by a 24 -hour negotiation volume of more than $ 3.15 billion. Token has won 3% on the last day and has increased by 16% during the past week.

Fibonacci levels are being used to track the following objectives. The movement above 0.618 to $ 0.24 has added weight to rupture. The following levels to see are $ 0.253, $ 0.27, $ 0.3 and $ 0.32. The cryptographic analyst Ali Martínez declared,

Looking at the longest trends, another analysis of Javon Marks focuses on Dogecoin repetition cycle for several years. His picture shows that Dege is often consolidated in wide triangles or wedge patterns before breaking higher. This was seen between 2014 and 2017, and again from 2018 to 2020, which led to the 2021 race that led Doge to a record of about $ 0.73.

The current structure, which began to form in 2022, shows a similar consolidation phase with higher minimums that support an ascending base. Marks suggested that this configuration could lead to a movement beyond the previous maximum of all time. Pointed out

Licist -based bullish trend signal

The Tardigrade Trader analyst shared an Ichimoku view of the daily Dogecoin table. On September 9, Chikou’s stretch crossed above the price, generating a bullish confirmation. Explained,

“The Chikou section (delay section) cross over the price, indicating a confirmation of the upward trend. It suggested a long exchange of $ dux.”

According to its analysis, all Ichimoku conditions currently point up, producing a +4 bullish trend score. The support is at $ 0.23804 and in the range of $ 0.21517– $ 0.22661. Doge continues to maintain above these areas, with resistance seen near the area of ​​$ 0.26.

Liquidity and short position settlements

Recently, Dege went beyond $ 0.25 after cleaning areas where short positions had been accumulated. These liquidations reduced the sales pressure and allowed the price to advance. Liquidity data show company support between $ 0.23 and $ 0.24, while the market is consolidating around $ 0.25– $ 0.255.

Source: CW/X

If the purchase demand continues and the asset is broken above $ 0.26, the reduced liquidity above current levels could give space to push towards the objective of $ 0.31 described by analysts.

Special offer (sponsored)

Free Binance $ 600 (Cryptopotato Exclusive): Use this link to record a new account and receive an exclusive welcome offer of $ 600 in Binance (Complete details).

Limited offer for Cryptopotate readers at Bybit: Use this link to register and open a free $ 500 position in any currency!



Leave a Reply

Your email address will not be published. Required fields are marked *