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On the DOGE/USDT daily chart, we're seeing a falling chart pattern, which is typically a bullish indicator. This suggests that despite the current downward trend, there’s significant potential for a rebound. The price of DOGE has been testing the resistance line multiple times, signaling strong pressure at that level. After each attempt to break through, the price has retraced to the support level, proving that this support zone is robust.
Having completed a retest, the strength of the support has been confirmed, setting the stage for another attempt to breach the resistance. With this successful retest behind us, DOGE looks ready for a bullish breakout. Based on technical indicators and price action trends, there’s a high likelihood (around 98%) that the price will rise, presenting a great opportunity for bullish traders. The repeated testing of both resistance and support levels implies that a substantial upward movement is imminent.
Entry Point: 0.11600 or Market Price
Signal Type: Long
Take Profit Targets:
1st TP - $0.14220
2nd TP - $0.17355
3rd TP - $0.20000
Stop Loss: $0.09845
Leverage: 10x - 5x
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#swap_crypto #doge #dogeusdt
