A TRADINGVIEW analyst presented an artistic view that contradicts the morale of the prevailing market, indicating that Dogecoin still constitutes the cup stage of the cup and dealing with a pattern instead of Complete the handle Many believe.
this Alternative perspective tires Recent price movements are not timed after the outbreak, but as part of a much longer unification phase began after the peak of Dogecoin 2021. However, the consensus is the same, and this setting indicates that the price of Dogecoin is about to recover about $ 0.4.
The formation of the cup has remained since 2021
According to the analyst, the cup style and the visual handle on the Dogcoin chart has been developing for nearly four years, with prices closer to a wide base that extends to the highest previous level ever. This interpretation diverges from the majority point of view, which argues that Dogecoin completed the cup structure, and came out of the resistance of the neckline in late last year, and is Now in the handle stage Before another leg up.
Instead, the current analysis argues that Dogecoin is still in the last stages of the cup stage, with no handle to date, and that accumulation is still revealing. The average prices above support the main averages that buyers are gradually building jobs during the paid bottom process.
The resistance area is seen about $ 0.48 differently in this analysis as only part of the cup composition. From this perspective, the hacking has not occurred, and any move about $ 0.4 will be part of a continuous upward grinding in the neck line. This does not focus on the coordination of the handle or re -testing the penetration point, but on developing the entire cup structure it can eventually pave the way for the classic handle and the assembly.
Accumulation in the cup stage to push Dogecoin to new levels
Many analysts have installed the recent decline of Dogecoin as part of the re -test of the handle after the outbreak, but this technical preparation means that the price is still climbing towards the outlight point So far to arrive. Based on this outlook, the move can be about $ 0.4 as part of the final upward trend in the cup structure, after which the handle may finally form.
If the pattern is turned on as shown, Dogecoin may see short -term gains before stopping to unify at higher levels between $ 0.4 and $ 0.5. Real penetration Above the resistance of the neck line is higher than these levels, before forming the subsequent handle.
However, the most prominent price level to monitor a real confirmation of upward continuation is $ 0.48. At the time of this report, Dogecoin is traded at $ 0.1967. The past 24 hours have been distinguished by a short break more than $ 0.2, which is currently the most important resistance to short -term prices to overcome it.
Distinctive image from Adobe Stock, Chart from TradingView.com
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