While the cryptocurrency markets exhibit a fluctuating distribution of macroeconomic returns, #Dogecoin ($DOGE ) draws attention. #DOGE , which has shown a strong recovery from $ 0.16 and is currently stuck in the $ 0.170 band, has alarmed traders with its symmetrical triangle formation in technical analysis. Experts state that the price has a potential to move up to 60% with the exit from this structure.
š Symmetrical Triangle Alarm: Does the Squeeze in DOGE Price Indicate Danger?
The Dogecoin chart has completed the symmetrical triangle formation, which is evaluated by technical analysts with the comments "silence is before the storm". This formation ensures that the price relaxes in a narrow range and volatility gradually narrows. In this case, the breakout can occur sharply upwards or downwards.
Support point: $0.168
Resistance point: $0.172
Volatility: A declining structure, ready to explode, a merger view
Trading volume: Strong buying signal with 248 million DOGE in the last 24 hours
This data indicates that movements on DOGE have reached, while the countdown will begin for the breakout movement that will determine the direction of the price.
š What Do Technical Indicators Say?
RSI (Relative Strength Index): 49-50 band; indecision zone
MACD: Almost Extreme with the signal line; a chart in the decision phase
Moving averages: There is relaxation between the 20 and 50-day averages; the breakouts will be broken
This technical data reveals that growth is waiting for a clear direction signal to continue a new trend.
š° Macroeconomics and the Fed Factor
One of the important factors currently emerging in the markets in the Fed's interest rate policy. If interest rates are broken or bearish, the probability of an upward breakout in cryptocurrencies may increase. However, hawkish statements may increase selling pressure on altcoins, especially DOGE.
š Dogecoin Scenarios
š Upward Breakout:
First target: $ 0.205
Second target: $ 0.265 (approximately 60% increase)
Support: Persistence above $ 0.172
š Downward Breakout:
First support: $ 0.150
Second support: $ 0.130 (approximately 25% risk of decline)
Daily continuations below $ 0.168
šÆ Conclusion: Is DOGE Ready to Explode?
Dogecoin is in a critical relaxation period in technical terms. The symmetrical triangle formation, which has the potential for a large price movement both up and down, is a sign of the period to be careful for information. Technical analysis, news results and Fed guidance combined, DOGE prices are expected to harden the direction pattern in the coming days.
Risk management and stop loss method are of great importance in this position. Investors' restructuring of their risks according to the breakout directions are collected in evaluating the major possibilities or risks.
