Dogecoin Price Continues Trading Sideways But Bullish Pennant Says Get Ready For $1.30
The post Dogecoin Price Continues Trading Sideways But Bullish Pennant Says Get Ready For $1.30 appeared on BitcoinEthereumNews.com.
Este artículo también está disponible en español. The Dogecoin price action in the past 48 hours has been highlighted by a consolidation below the $0.45 price level. Interestingly, technical analysis shows that this consolidation is part of a bullish pennant that has been in formation since early November. Particularly, Dogecoin is currently in the flag phase of the bullish pennant formation, which is known to be the consoldation phase before the next leg up. According to Crypto analyst KrissPax, this Dogecoin price movement is creating a “great springboard for the next big Doge pump.” Dogecoin’s Sideways Trading Forms The Foundation For Growth The Dogecoin price has been trading within range since it reached the $0.47 mark on November 23. This range has been highlighted by a key support level around $0.37 that prevented further declines on November 26. Crypto analyst KrissPax noted that this consolidation has held above support, which he interprets as constructive rather than negative. Related Reading In terms of a Dogecoin price outlook, KrissPax highlighted that the consolidation has led to the formation of a bullish pennant, which is set to be broken at the upper trendline. For his price prediction, he highlighted the $1.3 level as the prime target after the breakout. The bullish pennant typically forms after a strong upward rally followed by consolidation, with price movements resembling a triangle. A breakout from this pattern often signals the continuation of the prior trend, making $1.30 a plausible target if the pattern holds true. The current Dogecoin sideways trading is holding support and making for a great springboard for the next big Doge pump. This bullish pennant targets a big move up to $1.30! Chart: Trader Tardigrade pic.twitter.com/cho062TLNU — KrissPax (@krisspax) December 3, 2024 What Could Drive The Dogecoin Price To $1.3? At the time of…
Filed under: News - @ December 4, 2024 9:20 pm