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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Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.