Dogecoin strongly breaks through a key pattern, with bulls targeting the $1 goal.
Recently, Dogecoin (DOGE) has attracted widespread market attention as its price successfully broke through a key bullish pattern—the classic 'cup-and-handle pattern', which typically signals sustained upward trends. After a period of narrow fluctuations, DOGE finally broke through significant resistance, igniting traders' enthusiasm for going long. Analysts generally believe that if buying momentum continues to strengthen, Dogecoin is expected to open up greater upward space.
Although the breakout is exciting, the market's focus has shifted to whether the bulls can maintain this achievement. If subsequent buying pressure is strong enough, DOGE may challenge higher resistance levels and even initiate a new upward trend. However, if it fails to stabilize above the breakout area, the price may face a risk of correction, making this stage a 'moment of success or failure' for Dogecoin.
Renowned analyst Whales_Crypto_Trading pointed out on social platform X that DOGE's cup-and-handle pattern is complete, and it is currently testing a key resistance area that has long suppressed prices. Once this area is confirmed as broken, it may attract more capital, pushing prices towards new short-term highs. He further emphasized that if momentum is sufficient, DOGE is expected to successively challenge the $0.50, $0.73, and ultimately the milestone target of $1. These price levels coincide with historical selling pressure zones, and a breakout would completely reverse the recent consolidation pattern.
From a technical perspective, the upward momentum of Dogecoin is validated by multiple indicators:
The Relative Strength Index (RSI) has broken above the mid-level of 50 and is currently around 63, indicating that buying pressure is dominant and the upward momentum is robust. The MACD indicator shows classic bullish signals: the fast line is above the slow line, and the histogram continues to expand, indicating the sustainability of the upward trend.
Analysts point out that the synchronized strengthening of the RSI and MACD further confirms that this breakout is not a temporary rebound, but the beginning of a trending market. If the current momentum can be maintained, the path for DOGE to break through historical resistance and target the $1 goal will become clearer.
The short-term performance of Dogecoin will depend on two main factors: whether it can firmly stand above the breakout level and whether buying pressure can withstand potential profit-taking pressure. If it successfully consolidates its gains, DOGE may become a leading asset in this round of cryptocurrency market rebound, providing investors with opportunities for excess returns.
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