$DOGE -Bullish Pattern and Key Trigger Zone
📢Dogecoin Tries to Avoid Bear Market as Bullish Trio Emerges
Why the 4-hour chart? It captures short-term follow-ups to on-chain changes more quickly than daily, which is still somewhat slow at this time.
On the 4-hour timeframe, DOGE is trading in a rising triangle with stacked resistance near US$0.232, US$0.239, and US$0.246. These closely stacked resistance levels are important when looking at the shorter timeframe.
Dogecoin price analysis: TradingView
The US$0.232 area has been contested repeatedly; a clear acceptance above it will restore momentum to buyers and may attract a higher daily structure. Bull-Bear Power on the 4-hour timeframe is rising from its lows, indicating that bear pressure is fading in this tightening.
The Bull Bear Power indicator measures the balance between buyers (bulls) and sellers (bears) in the market. It compares the highest price in a period with the exponential moving average (EMA) to estimate bullish strength, and the lowest price with the EMA to measure bearish strength. When BBP moves towards positive territory, it indicates that buyers are gaining control; when it moves deeper into negative territory, sellers dominate.
If whales continue to accumulate and the Spent-Age metric remains calm, a breakout to the upside is the path with higher probability. A decisive drop below US$0.216, more like a full candle close, would invalidate this short-term bullish setup for Dogecoin's price and reopen the downside.
$SERAPH $SEI
