The Dogecoin price is down more than -57% compared to its December 8 summit at $ 0.4843, but a background could be close. In a technical analysis shared on X, Pink Premium Signals (@viprosrosrosr) strengths A potentially optimistic configuration for Dogecoin (Doge), fueled by a classic pattern of “cup and sleeve”.
The cup and the handle of the Dogecoin could emerge
According to the graph, the price of the DOGE could face a last step before it finds its bottom near the support area of $ 0.168,96. This level marks the base of a possible cup and handle motif – a formation characterized by a rounded “cup” followed by a smaller consolidation or “handle”. Technically, the cup phase reflects market efforts to find a background, while the handle phase often takes shape as a brief withdrawal or a lateral movement before a potential escape.
The central area of the next Doge movement seems to be close to $ 0.29124. If the prices come together above this threshold, it would probably confirm the formation of cup and manipulation and could trigger a robust swing. The graph suggests that traders can interpret a decisive daily or weekly closure above $ 0.29124 as a confirmation signal, potentially inauguration bullish.
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“Doge shows a strong bullish potential as the key inversion area approaches. The price reached the support of $ 0.16896, aligning with potential cup and handle training. An escape greater than 0.29124 could confirm a gathering to new peaks, ”writes Rose Premium Signals via X.
In terms of upward objectives, Rose Premium Signals indicates that Doge could climb to the range from $ 0.50 to 0.60 if the cup and handle pattern takes place as expected. This objective corresponds to historical areas of increased commercial activity and psychological levels which often attract the attention of traders. The analysis also notes the potential of the increase, suggesting that the Dogecoin trajectory can extend beyond $ 0.60 should positive feeling intensify.
“The long -term objective is nearly $ 0.50 to $ 0.60, with more upward potential. If Momentum continues, Dogecoin could recover its mile of memes throne and push towards higher levels, ”according to analysts.
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This comment underlines Doge’s ability to recover its status from the main parts of memes. While the recent manner of the same has flooded the market with thousands of smaller tokens, diverting the attention of the same original, Dogecoin, the landscape can move. After the burst of the same bubble – which culminated with ASSETMelania and Balance – The accent could soon return to Doge while traders are looking for more established assets in space.
From a technical point of view, a decisive break with a sustained dynamic could revive both retail and institutional interest, propel Doge to higher resistance levels and confirm the potential model of cup and sleeve.
At the time of the press, DOGE exchanged $ 0.207
Star image created with dall.e, tradingView.com graphic