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.