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Dogecoin Nears Breakout as Descending Wedge Pattern Tightens

Release: 2024/09/25 16:30 Reading: 366

Original author：CryptoTale

Original source：https://coinmarketcap.com/community/en/articles/66f3ba5279e3f558f6e13ecc

Dogecoin Nears Breakout as Descending Wedge Pattern Tightens

Dogecoin (DOGE/USDT) Poised for Breakout

Dogecoin's daily chart suggests a breakout potential. The descending wedge pattern, characterized by lower highs and lows, indicates a gradual decline in bearish influence.

Descending Wedge Pattern

The wedge is defined by two converging trendlines. The upper (resistance) trendline is at $0.1150, while the lower (support) trendline is at $0.087. This narrowing range constrains Dogecoin's price.

A breakout above the resistance trendline could trigger a price surge.

Support and Resistance Levels

A decisive breakout depends on overcoming the resistance at $0.1150. If successful, a 45.25% gain to $0.16 is possible. These levels support the bullish potential of the wedge pattern.

Previous：Dogecoin Price Prediction: DOGE Price Breakout Ahead? Next：The latest price of Dogecoin at 16:00 on September 25, 2024

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