Dogecoin (Doge) again makes waves on the cryptography market. This time, this is due to a fascinating technical model that forms on its price table: a symmetrical expansion triangle. Known for periods of increased volatility signaling and potential escape possibilities, this model has traders and investors on the verge of seats, wondering what is the next step for Doge.
The symmetrical expansion triangle is a rare and dynamic formation, marked by its extended price range and its convergent trend lines. For Dogecoin, this diagram reflects a standoff between the bulls and the bear, neither of the two sides still winning a clear hand. As the triangle continues to develop, the probability of a decisive price movement increases, preparing the way for an explosive escape or rupture.
Analyze the action of current Dogecoin prices in the expanding triangle
The action of dogecoin prices in the symmetrical expansion triangle suggests increased indecision of the market while bulls and bear try to assert domination. The extended nature of the triangle indicates an increase in volatility, each price oscillation becoming more extreme.
Currently, DOGE oscillates between the higher resistance trend line and the lower expansion triangle trend line. Each swing is increasingly pronounced, with an upper summit of $ 0.2923 and a minimum of 0.2403, reflecting an increasing uncertainty of the market and an aggressive negotiation activity.
These key support and resistance trends will determine the next major movement. If buyers push the price to the upper limit, a break could point out an increased continuation. Conversely, a drop to the lower trend line suggests a possible downward ventilation.
Volume trends and technical indicators such as RSI will provide additional confirmation of the feeling of the market when approaching a decisive decision. An RSI increasing towards the 50% threshold may indicate an increase in the rise up, while a continuous decrease movement could strengthen the downward perspective. In addition, an increase in volume alongside an increase in prices would support a sustained rally while the drop in volume leads to a weakening of the conviction among market players.
Key levels to monitor a confirmed escape
While DOGE continues to negotiate in a triangle in symmetrical expansion, the identification of key levels for confirmed break is crucial for merchants and investors. When an upward or downward escape occurs, it could point out the start of a new trend, which makes it essential to monitor these levels.
More specifically, a strong closure above the upper limit of the pattern almost $ 0.2923, associated with a significant increase in the volume of trading, would confirm an upward break. This decision will probably open the way to more in-depth growth, which will result in the price around $ 0.3563 or beyond.
However, if DOGE does not maintain the support almost 0.2403, the sales pressure could intensify, increasing the price to $ 0.1800 or more. A lowered movement supported below this level indicates a deeper correction, emphasizing historical support areas.