The price of Dogecoin (DOGE) is consolidating in a narrow band around $0.170, preparing for a significant price movement of up to 60%.

In this period where macroeconomic uncertainties are increasing volatility in the crypto markets, DOGE is at a critical technical point. One of the most well-known meme coins, Dogecoin, quickly recovered from the $0.16 level and stabilized around $0.170. Experts believe that these price movements signal a significant breakout.

, a 'symmetrical triangle' formation is observed on the Dogecoin chart. This structure is generally considered an important technical signal that emerges before sudden and sharp price fluctuations. The narrowing price movements of the symmetrical triangle and decreasing trading volume are seen as heralds of an impending major price movement.

The magnitude of the movement triggered by this formation can reach up to 60%, but the direction has not yet been determined. The market is cautiously approaching both upward and downward possible breakouts.

Currently, $0.168 stands out as a strong support point for DOGE, while there is significant selling pressure at the $0.172 level during bullish attempts. The high trading volume of 248 million that occurred in the last 24 hours reinforces the importance of this resistance.

Analysts state that especially the general uncertainty in the market and the upcoming statements from the Fed will affect investors, emphasizing the need for caution. The RSI indicator hovering near the 50 level and the MACD moving horizontally indicate that DOGE is at a critical decision stage.


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