#CryptoReboundStrategy Happycoin.club - It is quite likely that the meme token Dogecoin (DOGE) is preparing for significant growth after breaking out of a descending triangle, a technical setup often associated with major price jumps.
According to analyst Trader Tardigrade, the breakout indicates a potential bullish shift that could lead to DOGE rising to new short-term highs.
According to the analysis, on the daily chart, the descending triangle established support at the level of $0.31, which now acts as a solid support zone.
Currently, DOGE is trading above $0.33, and this breakout level is key for maintaining bullish momentum. If the token holds above this zone, the price could reach the first major resistance at $0.42, which represents a significant obstacle on the path to an upward trajectory.
Moreover, successfully overcoming the $0.42 mark could pave the way for growth to $0.56. However, for Trader Tardigrade, this is not the final target, as he expects a surge to the level of $3.20.
His opinion is shared by Dogecoin supporter KrissPax, who is confident that the recent breakout from a two-week descending wedge pattern signals a possible bullish reversal for DOGE.