Dogecoin Breaks Out of Descending Triangle Pattern as Bulls Hint Take Over
- Dogecoin broke out from a descending triangle pattern, signaling potential upward momentum.
- DOGE saw a 4.91% price increase, with an 80.20% surge in trading volume.
Dogecoin (DOGE), a digital asset that was started as a meme coin, has been consolidating across key trendlines with different price movements over the past week. Despite being created as a joke, DOGE plays a good part in payments and instant transactions, holding 8th place in the market cap.
A closer look at the recent price patterns, market data indicates that DOGE has been exchanging at $0.1624 and up by 4.91% in 24 hours. Additionally, the digital asset recorded a surge in market cap and volume with an uptick of 4.92% and 80.20%, respectively.
Dogecoin Confirms Breakout from Triangle Pattern
The trading consolidation pattern around the $0.15 range ended positively as DOGE’s H4 candle closed and confirmed its departure from the descending triangle pattern. This price movement indicates DOGE may experience significant market changes since it surpassed critical resistance above $0.16 level.
Further, a close of the H4 candle above the descending triangle pattern confirms the shift in momentum, signaling the possibility of a continued upward trend.
A deeper view of the analysis prepared by Trader Tardigrade points to an impending breakout that will invite the bulls. According to the observation made, Dogecoin has seen lower highs and consistently higher lows as the price tested the resistance line multiple times, failing to break above it.
With the current breakout in place, the Dogecoin trading chart shows significant support at $0.14, with resistance near $0.20, suggesting a range-bound market between these key levels.
DOGE Current Market Action Revealed
According to CoinMarketCap data, Dogecoin holds a circulating supply of 148.94 billion, with the maximum supply remaining infinite. Meanwhile, the volume-to-market cap ratio in the last 24 hours reads at 3.6% with $24.15 in fully diluted volume.
Additionally, during the 24-hour session, Dogecoin saw a low price of $0.1527 and a high of $0.1624. Dogecoin’s all-time high occurred on May 8, 2021, at $0.7376, reflecting a 78.08% decrease from the current price, while the all-time low was on May 7, 2015, at $0.00008547, showing a massive increase of 189,089.75% from the present value.
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Dogecoin Breaks Out of Descending Triangle Pattern as Bulls Hint Take Over
- Dogecoin broke out from a descending triangle pattern, signaling potential upward momentum.
- DOGE saw a 4.91% price increase, with an 80.20% surge in trading volume.
Dogecoin (DOGE), a digital asset that was started as a meme coin, has been consolidating across key trendlines with different price movements over the past week. Despite being created as a joke, DOGE plays a good part in payments and instant transactions, holding 8th place in the market cap.
A closer look at the recent price patterns, market data indicates that DOGE has been exchanging at $0.1624 and up by 4.91% in 24 hours. Additionally, the digital asset recorded a surge in market cap and volume with an uptick of 4.92% and 80.20%, respectively.
Dogecoin Confirms Breakout from Triangle Pattern
The trading consolidation pattern around the $0.15 range ended positively as DOGE’s H4 candle closed and confirmed its departure from the descending triangle pattern. This price movement indicates DOGE may experience significant market changes since it surpassed critical resistance above $0.16 level.
Further, a close of the H4 candle above the descending triangle pattern confirms the shift in momentum, signaling the possibility of a continued upward trend.
A deeper view of the analysis prepared by Trader Tardigrade points to an impending breakout that will invite the bulls. According to the observation made, Dogecoin has seen lower highs and consistently higher lows as the price tested the resistance line multiple times, failing to break above it.
With the current breakout in place, the Dogecoin trading chart shows significant support at $0.14, with resistance near $0.20, suggesting a range-bound market between these key levels.
DOGE Current Market Action Revealed
According to CoinMarketCap data, Dogecoin holds a circulating supply of 148.94 billion, with the maximum supply remaining infinite. Meanwhile, the volume-to-market cap ratio in the last 24 hours reads at 3.6% with $24.15 in fully diluted volume.
Additionally, during the 24-hour session, Dogecoin saw a low price of $0.1527 and a high of $0.1624. Dogecoin’s all-time high occurred on May 8, 2021, at $0.7376, reflecting a 78.08% decrease from the current price, while the all-time low was on May 7, 2015, at $0.00008547, showing a massive increase of 189,089.75% from the present value.
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Metaplanet Boosts Holdings Amid Market Volatility By Adding 330 BTC
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