An analyst has explained how Dogecoin could be at a make-or-break level right now based on a technical analysis (TA) chart pattern. Dogecoin Is Retesting The Lower Bound Of An Ascending Channel In a new post on X, analyst Ali Martinez has shared a TA pattern potentially forming in the meme coin’s 1-week price chart. The pattern in question is an Ascending Channel, which appears when an asset trades between two parallel trendlines slopped upwards. As the price curve moves inside the channel, it observes consolidation toward the upside. The upper line of the pattern acts as a ceiling, providing resistance when the asset retests it. Similarly, the lower line acts as a point of support. Related Reading: Dogecoin, XRP Among Coins Seeing The Largest Decline In Profit Supply: Data In the scenario that one of these levels breaks, the price can see a continuation of the trend in that direction. That is, a surge above the channel can be a bullish signal, while a drop under it is a bearish one. Now, here is ..
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