Yahoo Finance
Dogecoin (DOGE) is setting up for another 30% rally after breaking out of a bullish cup-and-handle pattern, as a broad crypto rebound and a sharp short squeeze add momentum to the move.
Dogecoin has rebounded over 50% in the past month, reaching$0.10 on Sept.
22.This is in line with myDOGE price prediction published in August.
The rally appears to have confirmed a breakout from acup-and-handle patterndeveloping on DOGE's daily chart since June.
The "cup" portion formed as Dogecoin declined from around $0.09-$0.10 in June toward a local bottom near$0.066, before gradually recovering toward its previous highs in August.
DOGE then entered a relatively shallow pullback, trading inside a downward-sloping channel through September.
This consolidation formed the pattern's "handle." The latest rally has pushed Dogecoin above the handle's upper trendline while simultaneously reclaiming its200-day exponential moving average (EMA)near$0.093.
That combination strengthens the breakout signal.
Cup-and-handle patterns typically resolve when the price breaks above resistance and rises by roughly the structure's maximum depth.
Applying the same principle to DOGE puts its upside target near$0.128, approximately30% above current levels.
The breakout has also arrived alongside rising trading volumes, suggesting stronger participation behind the move.
Conversely, a pullback below the$0.09-$0.093 breakout zonecould weaken the immediate bullish setup.
| Product | Price | Change |
|---|---|---|
| Brent Crude | $102.14/bbl | +0.34% |
| WTI Crude | $96.90/bbl | +0.21% |
| EN590 Diesel | $846/MT | +0.18% |
| Jet Fuel A-1 | $1090/MT | +0.55% |
| Mazut M100 | $450/MT | -0.15% |
| Bitumen 60/70 | $470/MT | +0.08% |
| Sulphur Gran 99.5% | $470/MT | -0.44% |
| Urea 46% Gran | $650/MT | +1.12% |
| NPK 16-16-16 | $460/MT | -0.28% |
| Nat Gas TTF | $15.42/MMBtu | +0.92% |
Comments
Post a Comment