Doge breaks the triangle pattern, warns the next stage analyst

TL; Dr.

• Dogecoin breaks the formation of triangles, the analyst warns that Price could fall towards the Fibonacci support level of $ 0.17.
• Bitcoinsensus Projects The next wave rally could send Doge between $ 1.00 and $ 1.40 in the long term.
• Futures open stable interest at $ 3.32B, while the options trade increased as merchants prepare positions.

Disagos of triangle formation

Dogecoin (Doge) has moved below a symmetrical triangle formation after weeks of lateral action. The measure was marked by the market analyst Ali Martínez, who suggested that the breakdown could press the lowest short -term prices.

The graphic points to resistance about $ 0.22, while immediate supports are $ 0.20 and $ 0.19. If the bearish movement continues, the following objective is at $ 0.17, a level that coincides with the extension of 1,272 fibonacci. According to the analyst,

“Dogecoin $ Doge leaves a triangle, heads to $ 0.17!”

At the time of writing, Dege was valued at around $ 0.22 with a commercial volume of 24 hours of $ 1.95 billion. Token has won 1% on the last day, although it has spent 3% during the week.

Opposite Perspectives of Market Analysts

While a view suggests a movement towards $ 0.17, another long -term chart shared by Bitcoinsus shows a possible rally. Within the weekly term, Dege continues to track inside a logarithmic bullish trend channel.

In particular, the graph highlights an increase of +290% of $ 0.08 to $ 0.23, followed by an increase of +440% to $ 0.50. According to this pattern, the next impulsive wave could raise prices between $ 1.00 and $ 1.40. The publication pointed out,

“This next wave could lead to prices of up to $ 1.40”.

Doge is consolidating about $ 0.217 and has been forming higher minimums that keep the long -term channel intact. Analysts see this as the basis for a larger movement, although short -term signals remain mixed.

Whale activity and futures market

Observations in the chain show that whales are currently inactive. As Martinez said,

“The Dogecoin $ Doge whales remain out.

Coinglass data add more details. The open interest in Doge futures increased slightly by 1% to $ 3.32 billion, which suggests a constant participation of merchants. At the same time, the daily negotiation volume fell 14% to $ 5.05 billion, showing a lighter participation.

The activity activity has increased, with a volume rising 1,057% to $ 1.86K, while open interest increased 132% to $ 2.76 million. These shifts suggest that merchants are positioning themselves for the next movement, since Dege stabilizes near the support.