🐶 Dogecoin Holds the Line — Second Support Retest Sparks Bo
koinmilyoner
Updated at: 6 hours ago
{"content":"🐶 Dogecoin Holds the Line — Second Support Retest Sparks Bounce Hopes
Dogecoin surged to $0.17 resistance on Wednesday. As optimistic technical indications emerge, crypto specialists expect DOGE to continue its rise.
After Dogecoin's Second Support Retest
Dogecoin is back above key barrier levels that stopped its rise. After a protracted bearish stretch, the dog-themed meme currency may soon turn a corner.
Veteran crypto investor and trader Trader Tardigrade has identified a positive technical indication that might boost DOGE. The expert found that DOGE retested a crucial support level twice.
Dogecoin rose significantly after crossing this support trend line in September last year, according to the chart. The meme coin retesting this crucial trend line gives Trader Tardigrade confidence that DOGE's price will rebound sharply as in the prior situation.
If this rebound matches the prior outcome, DOGE might surge beyond $0.90 in the following months, signifying a new all-time high and a possible bull market peak. This rise may halt DOGE's negative streak as bullish momentum returns.
Key Chart Formation Suggests DOGE Rebound
DOGE's price is showing indications of rising. Trader Tardigrade found an Ascending Channel formation in Dogecoin's 1-day price activity.
An ascending channel pattern has two parallel, upward-sloping trendlines connecting higher highs and lows. A breakthrough to the upside might lead to a rally after this pattern of price consolidation in an upswing.
Trader Tardigrade said that meme coin is near the bottom support of the ascending channel pattern and expected to rise. When DOGE rises, the top line at $0.176 is the next important barrier.
Dogecoin was trading at $0.174, up almost 7% in 24 hours. A 105% increase in trade volume yesterday suggests market confidence is back.
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