DOGE/USDT has been trading inside a clear downward channel with consistent lower highs and lower lows, respecting the trendline for weeks. The price action shows repeated rejection from the upper resistance trendline, while also holding support around the lower boundary of the channel.
Currently, we are approaching a critical support zone, where buyers may step in to defend. If momentum builds, we could see a bullish breakout from this downward channel, potentially confirming a trend reversal. A successful breakout above the trendline would open doors for an upward rally with strong recovery potential.
🔑 Key Highlights:
Downward channel structure visible.
Multiple touches on the trendline confirm strong resistance.
Price nearing decision point (possible breakout or continuation).
Watch for breakout confirmation with volume.
📌 This setup is one to watch closely – a breakout could bring strong bullish momentum, but failure to hold support may extend the bearish cycle.
Currently, we are approaching a critical support zone, where buyers may step in to defend. If momentum builds, we could see a bullish breakout from this downward channel, potentially confirming a trend reversal. A successful breakout above the trendline would open doors for an upward rally with strong recovery potential.
🔑 Key Highlights:
Downward channel structure visible.
Multiple touches on the trendline confirm strong resistance.
Price nearing decision point (possible breakout or continuation).
Watch for breakout confirmation with volume.
📌 This setup is one to watch closely – a breakout could bring strong bullish momentum, but failure to hold support may extend the bearish cycle.
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Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.