Dogecoin Forms Bullish Triangle Pattern, Analyst Reveals The Next Target
Dogecoin is currently seeing reasonable upside following the Bitcoin recovery above $71,000. This has sent the whole crypto market into a state of euphoria, and the DOGE price has crossed the $0.16 resistance while at it. This bullish trend is expected to continue, as one analyst points out that Dogecoin has formed a bullish triangle […]
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In classical technical analysis, an ascending triangle forms either as a continuation pattern midway through an uptrend or as a reversal pattern at the end of a downtrend. A break out of the triangle (i.e. a candlestick close above the upper channel) signifies a pattern completion, and infers a target of at least the height of the triangle in question. A quick look at the 15 minute price chart on the bitstamp feed reveals just such a pattern, and - therefore - offers up a bullish bias for the latter half of this week. We are currently trading just shy of 237, and approaching the apex of....
Popular cryptocurrency analyst and trader, Crypto Daily Trade Signals, has issued a warning to the Dogecoin community about a potential downside risk for the popular meme-inspired crypto asset as it confronts a bearish technical pattern amid a wider negative sentiment in the digital asset market lately. Dogecoin Forms Bearish Descending Triangle Pattern Crypto Daily Trade […]
An analyst has explained how a pattern forming in the Dogecoin price may suggest a rally to $1, if historical trend repeats this time as well. Dogecoin 1-Week Price Appears To Be Forming A Classic Pattern In a new post on X, analyst Ali has discussed how DOGE seems to have been showing a classic pattern in its weekly price once again. This trend involves a technical analysis (TA) pattern called the “Descending Triangle,” which, as its name suggests, is shaped like a triangle. The pattern involves two trendlines between which the price of the asset consolidates; one of these is....
The meme cryptocurrency has crashed by over 60% from its May 8 peak and one analyst believes it has another 60% deeper to go. If one looks at Dogecoin (DOGE) charts from the point of view of a financial chartist, he/she will notice an alarming presence of a classic bearish structure.For instance, pseudonymous analyst Tyler Durden highlighted what appears to be a "Head and Shoulder" pattern. The trading structure forms when an asset forms three peaks atop the same support level. In doing so, its middle peak comes out to be higher than the other two. Durden flashed the Head and Shoulder-like....
Recently, the price of Dogecoin (DOGE), the largest meme coin by market cap, has struggled alongside the general cryptocurrency market. However, the latest price action displays an exciting and positive outlook for the cryptocurrency. Renowned crypto analyst Ali Martinez recently shared a fresh insight on Dogecoin, speculating on a forthcoming price rally for the meme token. The Dogecoin Descending Triangle Formation Ali Martinez – via a post on the X (formerly Twitter) platform – put forward a $1 price target for Dogecoin. This price projection revolves around the multi-year....