The popular breast Coin, which we will talk about in the article, came up with a harsh decline in recent weeks, but the signals of a surprise rise on the technical analysis side began to come. One of TradingView’s popular analysts, “Cobra Vanguard olas warned Doge investors to be particularly careful. According to him, the current decrease can mislead investors and Dogecoin can make a big leap. This warning may be a signal that the price movement may reversal rapidly, especially for investors who are in the bear position.
“Cup and Handle” Formation: Eruption for Dogge can come
Analyst Cobra Vanguard pointed out that a long -term “Cup and Handle” formation occurred on Dogecoin’s monthly chart. The base of this formation was about $ 0.04 in mid -2022. Then the price rose to $ 0.47 in December 2024, and now there is a consolidation process in the “handle” section.
This technical formation is often considered a harbinger of a large price splash. Moreover, the graph contains AB = CD harmonic model. This model indicates that the target price may be $ 0.88, imitating past price movements in the past. Cobra Vanguard says that if this scenario occurs, there may be a strong recovery in Dogecoin.
Rising channel support stands strong
Famous analyst Ali Martinez emphasized that he moves within the long -term rising channel for Doge Breast Coin. This channel consists of three main trend lines in which the price is successfully supported over time. Especially in each theme of the lower band, the Doge price has reacted upward.
Currently, Doge is again testing this sub -support line. If this support level is maintained, the price may gain strength again. According to Martinez, when the fibonacci retreat levels are examined, the long -term target for Doge can reach up to $ 7. This points to a level that is far above the current price and means a great opportunity for investors.
Doge critical resistance: $ 0.1895 level should be overcome
Another tradingview analyst, “Readcrypto, says that Dogecoin should exceed some significant levels for a permanent recovery. In particular, $ 0.1895 resistance stands out as the first threshold that should be broken for Doge. At the beginning of March, Doge Breast Coin, who went below this level, then exhibited wavy movements here.
However, it is critical for the recovery of market confidence. If Doge manages to cross this point, the price will become more likely to move upward. Otherwise, the price may remain under pressure.
