Although overlooked, active traders see these micro-level patterns and look for early entries before the next major price change.
Early higher lows and buying activity suggest bullish potential without a breakout. DOGE could silently accumulate an upside surprise in the short term while the market analyzes its next move.
Technical patterns show an increase
After temporarily falling below $0.15100, the price quickly recovered with a strong increase in trading volume, indicating substantial buyer demand at lower levels. This rebound implies that bulls were eager to buy DOGE at a good price, indicating increased confidence.
DOGE is trading at $0.15385, just above a crucial support area. Maintaining this level could provide the foundation for new gains, especially if momentum strengthens. Traders use this area to distinguish short-term weakness from new strength.
The significant jump of DOGE from $0.15100 to $0.15120 indicated substantial buyer demand at this level. It found a short-term accumulation zone near $0.15250, indicating that traders are preparing for a breakout.
According to his interpretation, the chart structure suggests a W pattern, or double bottom. This setup supports a rebound if the price continues to rise above these levels.
The future of Dogecoin: bullish or bearish?
DOGE is between technical levels that could influence its direction in the short term. Bullishly, C0d3slayer stated that a breakout above the barrier of $0.15450 with strong volume would imply an increase. This scenario aligns price targets of $0.15550 and $0.15650 with previous response zones and short-term momentum fluctuations.
If the price drops below $0.15250, the support area of $0.15100 may be retested. A drop below this level could invalidate the current reversal pattern and undermine the bullish argument. If selling pressure increases below $0.15100, DOGE could drop lower, indicating that bears have regained control in the short term.
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