Dogecoin Price Breaks Resistance: Run Back To All-Time High on Cards?
The post Dogecoin Price Breaks Resistance: Run Back To All-Time High on Cards? appeared on BitcoinEthereumNews.com. Key Insights: Dogecoin price formed a daily hammer candlestick near $0.19, signaling a potential bullish reversal at key support. DOGE price rallied over 5% in the last 24 hours and 17% in the last 7 days, trading over $0.20 DOGE broke out from a falling wedge with a target projection near $0.43 Dogecoin (DOGE) price gained fresh momentum after breaching a major resistance area around the $0.20 mark, raising interest among traders and analysts. The action was preceded by a technical breakout pattern and a bullish candle pattern. Consequently, this signaled a shift in sentiment that could mark the beginning of a broader bullish trend. Dogecoin Price Hammer Candlestick Forms Dogecoin price just produced a hammer candlestick on the daily chart, and closed just above $0.192 after an intraday low of 0.185. The formation is commonly linked to reversing bullish moves and usually occurs at the conclusion point of a downtrend or wave of consolidation. Dogecoin Price 1-Day Chart Source: Tardigrade/X Subsequently, this reflected a trading session where sellers pushed DOGE price lower, but buyers regained control by the close. The candlestick was made right around an area of horizontal support, which has acted as a local bottom several times when consolidation patterns have occurred in the past. Such a signal is used by technical analysts as the symbol of the onset of upward trend. In this case, the hammer pattern coincided with growing volume, strengthening the interpretation of a possible reversal in market direction. Dogecoin Price Rallies Past $0.20 Resistance At the same time, the Dogecoin price increased more than 5% in the last 24 hours, and its growth in the last 7 days reached around 17%. The meme coin price moved upwards from $0.17 to above $0.20, suggesting short-term bullish activities. At the time of writing, DOGE was…
The post Dogecoin Price Breaks Resistance: Run Back To All-Time High on Cards? appeared on BitcoinEthereumNews.com.
Key Insights: Dogecoin price formed a daily hammer candlestick near $0.19, signaling a potential bullish reversal at key support. DOGE price rallied over 5% in the last 24 hours and 17% in the last 7 days, trading over $0.20 DOGE broke out from a falling wedge with a target projection near $0.43 Dogecoin (DOGE) price gained fresh momentum after breaching a major resistance area around the $0.20 mark, raising interest among traders and analysts. The action was preceded by a technical breakout pattern and a bullish candle pattern. Consequently, this signaled a shift in sentiment that could mark the beginning of a broader bullish trend. Dogecoin Price Hammer Candlestick Forms Dogecoin price just produced a hammer candlestick on the daily chart, and closed just above $0.192 after an intraday low of 0.185. The formation is commonly linked to reversing bullish moves and usually occurs at the conclusion point of a downtrend or wave of consolidation. Dogecoin Price 1-Day Chart Source: Tardigrade/X Subsequently, this reflected a trading session where sellers pushed DOGE price lower, but buyers regained control by the close. The candlestick was made right around an area of horizontal support, which has acted as a local bottom several times when consolidation patterns have occurred in the past. Such a signal is used by technical analysts as the symbol of the onset of upward trend. In this case, the hammer pattern coincided with growing volume, strengthening the interpretation of a possible reversal in market direction. Dogecoin Price Rallies Past $0.20 Resistance At the same time, the Dogecoin price increased more than 5% in the last 24 hours, and its growth in the last 7 days reached around 17%. The meme coin price moved upwards from $0.17 to above $0.20, suggesting short-term bullish activities. At the time of writing, DOGE was…
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