The Dogecoin price has just broken out from a unique Ascending Triangle pattern, signaling that it could be gearing up for its next critical level. Following recent market trends, Dogecoin (DOGE) has shown resilience, aiming to hit the $1 threshold despite failing to surpass resistance levels.   

Dogecoin Price Next Critical Level At $0.56

Popular crypto trader and analyst Rekt Capital took to X (formerly Twitter) on December 20 to discuss Dogecoin’s next bullish move after it broke out of an Ascending Triangle pattern. Typically, when a cryptocurrency breaks out of an Ascending Triangle, it suggests that the price has settled above a key resistance line.   

An Ascending triangle is a unique bullish pattern often formed during a price uptrend, signaling the continuation of a cryptocurrency’s upward momentum. The pattern is formed by a horizontal resistance line, where the cryptocurrency price struggles to break out of, and an upward-sloping trend line, where the price forms higher lows over time.  

Following Rekt Capital’s Dogecoin price chart, the meme coin began forming an Ascending Triangle pattern after it witnessed a massive pump above $0.35. Dogecoin experienced varying volatility and fluctuations during the pattern as it attempted to breach and stay above the $0.4 resistance level. 

Now that Dogecoin has successfully surged past $0.4 and is currently trading at $0.43, Rekt Capital has suggested that the meme coin is gearing up for another pump. The analyst pinpointed the $0.569 level as Go to Source to See Full Article
Author: Scott Matherson