DOGE News: Technical Analysis Suggests Potential Bullish Move for Dogecoin

A key technical development on the Dogecoin (DOGE/USD) chart could hint at a bullish move if current support levels hold, according to crypto market analyst Kevin (@Kev_Capital_TA). After roughly a month in a downward-sloping pattern, DOGE appears to be rebounding off the former resistance line of this channel—an event that often garners attention among traders looking for an upswing. On Sunday (Jan 19), Kevin noted that Dogecoin had been showing signs of a potential reversal, which could lead to a significant price increase if the support levels are maintained.

Will Dogecoin Skyrocket Soon? Chart Pattern Suggests Yes

A key technical development on the Dogecoin (DOGE/USD) chart could hint at a bullish move if current support levels hold, according to crypto market analyst Kevin (@Kev_Capital_TA). After roughly a month in a downward-sloping pattern, DOGE appears to be rebounding off the former resistance line of this channel—an event that often garners attention among traders looking for an upswing. On Sunday (Jan 19), Kevin noted that Dogecoin had been 'trading in a falling channel for over a month' and was 'currently back testing' the channel’s upper boundary. He emphasized that it was crucial for DOGE 'to hold this and bounce,' noting that failure to do so might force a 'reassessment' of the chart. Thus far, it seems the cryptocurrency is managing to defend its newfound support.

Dogecoin’s Power of 3 Pattern Signals 3,600% Surge to $3

The power of 3 pattern shows Dogecoin might rise sharply. The price charts predict a value of 3,600% jump. DOGE has hit its distribution phase. This means dogecoin market volatility will likely rise. Price moves match old patterns. More buyers could push the Dogecoin surge to new highs. The cryptocurrency investment scene looks strong.

How The Power of 3 Pattern May Start A Massive Surge

Most traders can spot three easy steps in a power of 3 pattern. About 2-3 weeks show price build-up first. Then some ups and downs happen for a few days. A big price move comes last, states crypto analyst Trader Tardigrade. From around March to late November 2024, nearly 40% of buyers saw prices climb up. This pulled in quite a few big buyers.