Dogecoin sees a bullish breakout – +40% gains likely for DOGE holders?

Dogecoin Analysis:

DOGE may experience a rally of up to 43% based on a bullish breakout from a falling wedge pattern.

Bullish Breakout Potential:

Crypto analyst Ali Marinez identified a breakout pattern indicating an upside potential of 44%. Falling wedges typically precede bullish rallies.

Long-Term Outlook:

Another analyst anticipates a first weekly golden cross, potentially leading to a 18,000% rally for DOGE.

Market Sentiment:

However, market sentiment for DOGE remains bearish, with declining open interest rates and volume. Spot outflows suggest a risk-off approach.

Short-Term Possibility:

Despite the bearish sentiment, a 10% rally remains possible in the short term. The RSI has retreated near oversold territory, indicating a potential bullish reversal.

Immediate Price Targets:

If the rally materializes, immediate targets include $0.1275 and $0.1325. Hitting $0.1325 represents a 10% gain. Support at $0.12 may break if the rally fails.

Resistance Levels:

Resistance at levels 0.14 or $0.13 is expected to be minimal due to low buying activity at those prices. This reduces the likelihood of profit-taking if the recovery targets are reached.