Triangle Pattern Signals Upside
Crypto analyst Lingrid has spotted a bullish triangle pattern on Dogecoin’s chart. This pattern suggests that the price is likely to continue rising.
The triangle is formed by the market consolidating below the upper border of the triangle. This often leads to a price squeeze, which is bullish.
Range Zone and Higher Lows
Dogecoin has been trading within a range zone just above $0.15. This suggests that accumulation is occurring, which is a sign of bullish momentum.
Additionally, Dogecoin has been creating higher lows, indicating a sustained bullish trend.
Target Resistance
If Dogecoin breaks through the downward trendline, analyst Lingrid predicts a bullish rally. The target resistance level is $0.17500.
Bullish Indicators
Dogecoin’s trading volume has surged over 130% in the past week, indicating increased investor interest.
Open interest has also increased significantly, suggesting that traders are betting on a price increase.
Bulls Dominate
Dogecoin bulls are currently in control, pushing the price up over 8% in the last day. It is currently trading at $0.164, a 122% increase over the past year.
