The post Dogecoin’s Strong Breakout From A Critical Pattern Sparks Momentum For Potential Uptrend appeared on BitcoinEthereumNews.com.

Dogecoin, the largest dog-themed meme coin, has benefited notably from the rising momentum in the broader crypto market, leading to substantial gains in the last few days. As the crypto market rebounds, DOGE has demonstrated price movements and trends that spark the potential for a major rally in the short term. Bullish Signs For Dogecoin Following A Retest Looking at Dogecoin’s recent price action, the meme coin has undergone a major movement that hints at an impending upswing shortly. Market expert and investor Trader Tardigrade pointed out the development in a recent analysis on the X (formerly Twitter) platform, capturing the community’s attention. Specifically, DOGE has successfully broken out of a Descending Triangle formation, triggering fresh optimism among investors for a possible move to higher levels. The breakout confirms the strength of the support level, which increases the probability of upward momentum in the short term. According to Trader Tardigrade, Dogecoin broke out of the bullish pattern at the bottom, reflecting a resurgence toward its upside trajectory. As a result, the expert is confident that the chart pattern might result in a subsequent explosive increase in DOGE’s price, possibly to a new all-time high. Key chart pattern breakout sends DOGE in an upward direction | Source: Trader Tardigrade on X Given the rising positive market sentiment, Dogecoin could attract a wave of old and new investors, which might trigger a near-term upswing. In the meantime, this anticipated move may set the stage for the larger view about Dogecoin surging to the $1 milestone in the ongoing cycle. It is worth noting that Dogecoin’s breakout from a descending triangle pattern comes prior to a retest of a critical chart pattern. Trader Tardigrade cited a complete retest to the Broadening Wedge formation, fueling optimism about an impending rally.  Typically, the broadening wedge…

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Filed under: News - @ January 3, 2025 10:20 pm