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The ongoing recovery rally in Dogecoin price hit a minor roadblock at the $0.079 level as the market sentiment struggle in FUD. For nearly two weeks, the DOGE price traded sideways below the $0.079 resistance indicating the buyers are westing to take trend control. However, in the 4-hour time frame chart, this consolidation reveals the formation of a famous bullish pattern called ascending triangle.
Pagrindiniai klausimai
- A potential breakout from $0.079 will bolster DOGE price for a $15% rally
- A cluster of EMAs near $0.079 creates a strong supply zone.
- 24 valandų prekybos Dogecoin moneta apimtis yra 257.2 mlrd. USD, o tai rodo 10% nuostolį.
aSource-Tradingview
An ascending triangle pattern is characterized when an asset price is obtaining dynamic support from a rising trendline which leads to a breakout from a crucial horizontal resistance(neckline). In theory, the higher low formation from price using the trendline indicates gradual growth in the bullish momentum.
By press time, the Dogecoin price traded at the $0.079 mark with an intraday gain of 0.5%. However, under the influence of this pattern, the coin price is likely to rise 5.8% to challenge the $0.079 neckline.
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A potential bullish breakout from $0.079 will intensify the buying pressure and drive the DOGE price another 10% to hit the $0.09 psychological barrier.
On a contrary note, if the market sentiment gets worse, the breakdown below the support trendline will invalidate the bullish thesis.
techniniai rodikliai
Santykinio stiprumo indeksas: This RSI indicator reflects the strength of an asset’s price action over a specified period. Contrary to the rising DOGE price, the 4-hour RSI slope dropping lower indicate weakness in underlying bullish momentum. Thus, the indicator indicates a significant possibility for prices to breach the lower trendline.
Therefore, interested traders should for a breakout of $0.079 barriers before entering a long position.
Eksponentinis slenkamasis vidurkis: the daily EMAs(50, 100, and 200) moving near the $0.074 level indicates multiple hurdles for buyers on the upsides.
Dogecoin kainos dienos lygiai
- Spot norma: 0.074 USD
- Tendencija: Uparty
- Nepastovumas: vidutinis
- Atsparumo lygiai - 0.079 ir 0.083 USD
- Palaikymo lygiai – 0.068 USD ir 0.063 XNUMX USD
Pateiktame turinyje gali būti asmeninė autoriaus nuomonė ir jis priklauso nuo rinkos sąlygų. Prieš investuodami į kriptovaliutas, atlikite rinkos tyrimus. Autorius ar leidinys neprisiima jokios atsakomybės už jūsų asmeninius finansinius nuostolius.
Source: https://coingape.com/markets/new-bullish-pattern-sets-dogecoin-price-for-15-upswing-but-theres-a-catch/