CandleFocus Dogecoin Eyes $0.50 as Triangle Breakout Sets Stage for Bullish Rally
2024-12-17
Author: Content Editor
The article discusses the current price action of Dogecoin and its potential for a breakout rally. Dogecoin is currently trading at around $0.40 and is maintaining a sideways trend. It is nearing a critical point and a symmetrical triangle formation on the 4-hour chart suggests that a decisive move is imminent. The article notes that if Dogecoin is able to break out of the triangle pattern, it could potentially rally to $0.50 and even form a new 52-week high. On the other hand, if it breaks below the support trendline at $0.3958, the downside risk could be around 6.28% and the price could dip to $0.34, resulting in a 15% pullback.
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