Dogecoin Analysis: Potential Cup and Handle Formation

28 paź

hello guys.

Pattern Identification: This chart suggests a potential "Cup and Handle" pattern, often considered a bullish continuation pattern. The rounded base forms the "cup," followed by a consolidation phase that could complete the "handle."

Support Levels:
The range between $0.05 and $0.07 shows strong historical support, providing a base for the current uptrend.
Additional support is seen around the 0.382 Fibonacci level, at approximately $0.0889, which aligns with previous resistance and current price action.

Resistance Targets:
If the handle pattern completes and breaks upwards, Dogecoin could potentially reach $0.38 and $0.52 as intermediate targets.
A breakout above the pattern’s neckline could lead to a long-term price target in the $3.80 area, aligning with the higher resistance levels shown.

Outlook: A successful completion of this pattern might signal a bullish reversal for Dogecoin, but confirmation is needed. If it fails to hold support levels, the price could retest lower levels, particularly near the 0.618 Fibonacci retracement.

29 paź

Uwaga

around 25% upward movement from yesterday!

10 lis

Zlecenie aktywne

it is running toward the target

13 lis

Uwaga

Do you remember the last analysis about #doge?!
it is forming the cup significantly