Dogecoin (DOGE) hints at price reversal based on this pattern breakout DOGE $DOGE DogeFam DogeArmy Dogecoinrise
The price may break through the upper trend line before the lines merge. The asset is anticipated to revert and trend higher when the price breaks the upper trend line.
A falling wedge pattern is interpreted as a bullish indication because it shows that buyers are beginning to enter the market to stop a falling price from continuing.Dogecoin has been on a steady decline since reaching highs of $0.1048 on April 3. Attempts to restart an uptrend met a wall at $0.095 on April 18.
At the time of writing, Dogecoin was up 1.14% in the last 24 hours to $0.071. According to IntoTheBlock data, Dogecoin faces a stiff barrier slightly above its current price. This is because 586,250 addresses bought 47.48 billion Dogecoin in the $0.073 to $0.086 range. This represents the area where the most Dogecoin was bought, per IntoTheBlock's Global In/Out of money.
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