Life and Death $0.17! Breakthrough and Take Off Dogecoin May Start a Frenzied Bull Market
Dogecoin's chart is quite interesting!
That 'silly dog' $DOGE has recently made bigger moves. The chartists and analysis tools have picked up on something: something might be brewing.
Current Situation:
Price: $0.1609
Daily Trading Volume: Over $800 million
Total Market Cap: $24.1 billion
Weekly Performance: Down 5.7%
The key is the chart! It has been trapped in a pattern called “descending triangle” for a long time, and now it has finally bounced up from the lower support line! For chartists, this is like seeing the signal flare of the 'dog fans holding the line'.
Key Points for Chartists:
1. Core Signal: Support level rebound = The beginning of stabilization.
2. Life and Death Line: $0.17! This is the most critical resistance level. If it can effectively break through and hold above it, the market is likely to take off!
3. Increased Trading Volume: This shows that real money is being invested, not just random movements, indicating a higher possibility of sustainability.
If it really surges up, the chartists' targets are:
Short-term Target: $0.20
Medium-term Target: $0.31
Crazy Target: $0.39
Although the resistance is tough, they believe that as long as the volume continues and market sentiment warms up, there is potential.
Why are they bullish?
The overall environment in the crypto world may be turning bullish, and Dogecoin is the most sensitive.
Social media buzz is rising.
The trend is slightly stronger than Bitcoin.
Some people have started accumulating quietly.
Brother Sheng's candid words:
On the chart, the downtrend has indeed stopped, $0.17 is the absolute critical point! If it can hold and break through, the space will truly open up. Otherwise, it's all in vain.
After a real breakthrough,
$0.26 will serve as a stepping stone, and $0.39 is heading towards becoming the 'annual meme coin king'.
How to operate?
Go all in now? High risk! Until it holds above $0.17, it could drop back at any time.
But keep a close eye on $0.17! Once it breaks through effectively and holds, take action when the time comes; the potential is indeed significant.
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