Dogecoin Price Squeezes Into Triangle With Breakout Closing In
Dogecoin has been trading in a tight range lately, with its price movement increasingly narrowing over the past few days between $0.15 and $0.16. This increasingly narrowing range comes off a wider downside consolidation move since the beginning of April, which has led to the creation of a triangle pattern on the 4-hour candlestick timeframe chart. Related Reading: Today’s $1K XRP Bag May Become Tomorrow’s Jackpot, Crypto Founder Says As it stands, Dogecoin is trying to recover from earlier losses in April, and a recent higher low points to growing bullish activity that could send it....
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Key Highlights. Dogecoin price continued to trade in a range, and looks set for a near-term breakout. 66.0 Satoshis is turning out be a major support area for Dogecoin. A critical breakout pattern is formed on the hourly chart, which might ignite swing moves in the short term. Dogecoin price settled below an important support of 70 Satoshis, signaling that buyers failed to capitalize and might struggle moving ahead. Triangle Breakout Pattern. There was a consolidation phase noted for the Dogecoin price within a contracting range, which resulted in a breakout pattern formation. There is a....
A crypto analyst, known as ‘CryptoSanders9563’, disclosed in a report on TradingView that the Dogecoin price has broken out of a symmetrical triangle pattern. This technical pattern, signaling a bullish continuation for Dogecoin, is expected to trigger a price surge to a new target above $0.375. Symmetrical Triangle To Drive Dogecoin Price Above $0.37 CryptoSanders has shared a Dogecoin price chart, showing a symmetrical triangle pattern formed by converging trendlines. According to the TradingView analyst, Dogecoin’s price broke above the symmetrical triangle’s upper trendline at....
Bitcoin price could be due for a breakout from the symmetrical triangle consolidation pattern, setting the next trend for price action. The 100 SMA is still below the longer-term 200 SMA so the path of least resistance is to the downside. A candle closing below the $445 level could be enough to confirm that a downtrend is set to take place. The triangle spans $435-465 so the resulting selloff could last by $30 or at least until the triangle lows. Stochastic is on the move down so sellers are in control. RSI is also heading south, indicating the presence of selling pressure. However, if....
Dogecoin (DOGE) is once again making waves in the crypto market. This time, it’s due to a fascinating technical pattern forming on its price chart: a symmetrical expanding triangle. Known for signaling periods of heightened volatility and potential breakout opportunities, this pattern has traders and investors on the edge of their seats, wondering what’s next for DOGE. The symmetrical expanding triangle is a rare and dynamic formation, marked by its widening price range and converging trendlines. For Dogecoin, this pattern reflects a tug-of-war between bulls and bears, with neither side....
Key Highlights. Dogecoin price failed to break higher time and again, as there lies a major hurdle for buyers around 72.0 Satoshis. 100 hourly moving average continued to stall gains in the short term and prevented upsides. There is a possibility that the price is forming a triangle breakout pattern on the hourly timeframe. Dogecoin price continued to trade in a range and likely forming a contracting triangle for a break in the near future. What are the chances of a break? Dogecoin price spiked a couple of times above a bearish trend line highlighted in yesterday's analysis. However, there....