Dogecoin is currently testing a key resistance level in the range of $0.17000 to $0.17500.
It found support around $0.12010 after experiencing a 47% price correction from its high of $0.22888.
A triangle pattern is forming on the daily chart, characterized by an overhead resistance trendline.
The recovery rally since April's pullback is confined between the 38.20% and 50% Fibonacci levels.
The breakout of the triangle pattern will determine the upcoming price trend.
According to Coingabbar Price Analysis, If Dogecoin breaks out of the triangle pattern, bulls may target the upper resistance level of $0.205.
Conversely, if there's a breakdown, Dogecoin could retest its crucial support level of $0.128.
KEY LEVELS :
RESISTANCE LEVEL : $0.19000-$0.23000
SUPPORT LEVEL : $0.13500-$0.10000
Disclaimer: Coingabbar's guidance and chart analysis on cryptocurrencies, NFTs, or any other decentralized investments is for informational purposes only. None of it is financial advice. Users are strongly advised to conduct their research, exercise judgment, and be aware of the inherent risks associated with any financial instruments. Coingabbar is not liable for any financial losses. Cryptocurrency and NFT markets could be highly volatile; users should consult financial professionals and assess their risk tolerance before investing.
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