- Ali observed a descending triangle pattern forming on the DOGE one-week chart.
- The DOGE/USDT 1-Day Chart shows a falling wedge pattern could be forming.
- DOGE’s three-digit spike and five-digit could be caused by the trader’s interests.
A crypto analyst under the pseudonym Ali observed a descending triangle pattern forming on the DOGE one-week chart. The crypto analyst also pointed out that DOGE experienced a 23,200% surge last time a descending triangle pattern formed. Currently, Ali speculated that if DOGE closes above $0.80, then, there may be a chance that the bullish surge could happen once again.
#Dogecoin | The last time a descending triangle developed on the monthly chart $DOGE pumped 23,200%!I'll be looking at a sustained monthly close above $0.80 for confirmation. pic.twitter.com/RVgymwIhtK
— Ali (@ali_charts) July 23, 2023
Looking at the DOGE/USDT 1-Day Chart, the candlesticks could be forming a falling wedge pattern. This could be deduced by observing the lower highs and lower lows that are continuously forming over time. Moreover, the 200 SMA and the trendline could converge soon, creating a strong resistance level for DOGE.
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