Dogecoin Price Analysis: Triangle Pattern Signals Potential Uptrend Continuation

狗狗幣價格分析：三角形模式預示著潛在的上升趨勢持續

On Sunday, the Dogecoin price experienced a slight decline, cooling the recovery gains observed earlier in the week. As it consolidates in line with Bitcoin, the leading digital asset, there is potential for market sentiment to stabilize and reignite the waning bullish momentum for a stronger rally. Currently, with Dogecoin down 1.9%, it approaches the lower support of a newly forming triangle pattern, indicating a possible opportunity for a breakout rally.

週日，狗狗幣價格小幅下跌，冷卻了本週早些時候觀察到的復甦漲幅。隨著它與領先的數位資產比特幣整合，市場情緒有可能穩定並重新點燃逐漸減弱的看漲勢頭，從而實現更強勁的反彈。目前，狗狗幣下跌 1.9%，接近新形成的三角形形態的下支撐位，顯示可能有突破反彈的機會。

Over the past four months, Dogecoin, the popular dog-themed memecoin, has faced a steady downtrend, shaped by a wedge pattern with prices oscillating between two descending trendlines. During this period, the Dogecoin price plunged from a high of $0.228 to a low of $0.091, resulting in a decline of approximately 60%.

在過去的四個月裡，流行的以狗為主題的 memecoin 狗狗幣面臨著穩定的下降趨勢，其形狀為楔形模式，價格在兩條下降趨勢線之間波動。在此期間，狗狗幣價格從高點0.228美元暴跌至低點0.091美元，跌幅約60%。

Amidst the July market recovery, the Dogecoin price made a sharp rebound, breaking through the pattern's resistance on July 20th, signaling a potential trend reversal and presenting a solid foundation for a possible rally. Data from derivatives market data provider CoinGlass reveals a noticeable trend in DOGE Futures Open Interest. From a July low of $492 million, Open Interest has surged to a current value of $706 million, reflecting a significant 42% increase.

在 7 月市場復甦的過程中，狗狗幣價格大幅反彈，在 7 月 20 日突破了該形態的阻力位，預示著潛在的趨勢逆轉，並為可能的反彈奠定了堅實的基礎。衍生性商品市場數據提供者 CoinGlass 的數據揭示了 DOGE 期貨未平倉合約的顯著趨勢。未平倉合約從 7 月的低點 4.92 億美元飆升至目前的 7.06 億美元，增幅達 42%。

This growth signifies an escalating interest and bullish sentiment among traders regarding Dogecoin's future market movements. Currently, the DOGE price forecast suggests a consolidation breached trendline, stabilizing before potentially breaking out again. A closer examination of the 4-hour chart reveals the price moving within two converging trend lines, forming a triangle pattern. Dogecoin trades at $0.129 with a market cap of $18.8 billion. Following this pattern, it may drop another 5% to retest the triangle's support.

這種成長顯示交易者對狗狗幣未來市場趨勢的興趣和看漲情緒不斷上升。目前，DOGE 價格預測顯示盤整突破了趨勢線，在可能再次爆發之前已穩定下來。仔細觀察 4 小時圖可以發現，價格在兩條聚合趨勢線內移動，形成了三角形形狀。狗狗幣的交易價格為 0.129 美元，市值為 188 億美元。按照這種模式，它可能會再下跌 5% 以重新測試三角形的支撐位。