Dogecoin Price Breaks Out Of Bearish Trendline And Enters Ascending Channel Headed For $0.3

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Dogecoin Price Breaks Out Of Bearish Trendline And Enters Ascending Channel Headed For $0.3 - NewsBTC

Quick Summary:

This breakout is a by a clear validation of an ascending channel that has formed since late April. Related Reading: Dogecoin Falling Wedge Breakout Puts Bulls In Charge, Target Moves Up To $0.62 The breakout indicates a full transition from bearish pressure into a bullish environment, with the price structure now leaning heavily in favor of the bulls.

Dogecoin Confirms Bullish Breakout As Trendline Crumbles According to a technical analysis posted on the TradingView platform by crypto analyst Melika, Dogecoin has bounced on through a long-standing bearish trendline that had acted as a major resistance in April.

This upward move coincides with Bitcoin’s surge to new all-time highs, which has helped to inject new confidence across the broader crypto market. Notably, technical analysis of the Dogecoin/TetherUS pair on the daily candlestick timeframe shows that the meme coin’s price has now flipped into an ascending channel headed for at least $0.3.