An analyst has analyzed Dogecoin's potential price movements using the Descending Triangle pattern from technical analysis (TA). This pattern involves two lines where DOGE's price consolidates: an upper sloped line offering resistance and a lower horizontal line providing support. Whether DOGE rises above or falls below these lines could indicate future bullish or bearish trends.
The Descending Triangle pattern, similar to other TA figures like the Ascending Triangle, shapes predictions on DOGE's future path. Breaks above the $0.198 resistance level could lead Dogecoin to surge up to 10%, reaching $0.220, offering more than a 15% growth potential from its current level.
Recent price fluctuations show DOGE initially climbing at the conclusion of the U.S. presidential elections, briefly nearing $0.220, before dipping back under $0.192. The next movements in DOGE's trajectory remain uncertain but monitored by analysts to watch how effectively it interacts with the Descending Triangle's boundaries.