🚨 DOGE/USDT Is a +60% Move Approaching? 🔺
📊 Market Summary:
Dogecoin is trading at ~$0.1637 with a daily drop of 4%, within an intraday range of $0.1589 to $0.1717. On a weekly basis, it has accumulated a decline of more than 9% and on a monthly basis, a drop of 30%. It is currently consolidating within a symmetrical triangle, a typical prelude to an explosive breakout.
🧠 Technical Analysis:
DOGE is supported by a significant support level between $0.168 and $0.170, while facing solid resistance at $0.172. The RSI is around 38 points and the oscillators have not yet confirmed bullish strength, although the technical pattern suggests accumulation before the move. Buying pressure will need to increase to validate a breakout.
🔮 Possible Scenarios:
• Bullish Scenario:
If the price can break strongly through the resistance at $0.172 and close above it, then a momentum towards $0.180 could be activated initially, with possible extension towards $0.185, confirming the triangle breakout.
• Bearish Scenario:
If the price loses the support at $0.168 with descending volume, then it is likely to drop towards $0.158, and if the pressure continues, down to the critical zone of $0.150.
• Sideways Scenario:
If the price remains between $0.168 and $0.172 without significant volume or clear breakout, then it will continue to consolidate within the triangle until the market defines a direction.
💬 Are you waiting for the breakout at $0.172 to enter, or have you already positioned yourself in the support zone? Comment your strategy 👇
