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Technical Analysis DOGE/USDT – 15 min

Today, I share a quick and clear analysis on Dogecoin (DOGE) against USDT, based on the 15-minute chart.

1. Formation of a descending triangle

We observe a chart pattern in a descending triangle, bounded by two trend lines (downward sloping resistance line at the top and upward sloping support line at the bottom). This configuration is generally a bearish pattern, but a breakout to the upside remains possible depending on volume and momentum.

2. Critical price zone

Supply (SELL): 0.18019

Demand (BUY): 0.18020

Last price: 0.18018

The price is currently testing the upper resistance of the triangle at 0.18020, which may indicate an imminent move, either a breakout or a rejection.

3. Volume index

Volume is slightly increasing around 15:00, which could precede an attempt to breakout. A sudden increase in volume is often a signal of strong market decision.

4. Potential targets

In case of a bullish breakout, the price could target levels of 0.18250 or even higher.

In case of a bearish rejection, the support levels to watch will be around 0.17800 then 0.17560 ("Low" zone).

Always exercise caution:

Wait for confirmation with a close above or below the triangle.

Always use a stop-loss to avoid significant losses.

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Conclusion:

A breakout from this triangle in the coming hours could trigger a significant move. Stay alert for signals and manage your risks well!

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