An analyst has pointed out how Dogecoin could end up seeing an extended drawdown, based on this Ascending Triangle pattern forming in its hourly price.
Dogecoin Has Lost The Support Of An Ascending Triangle Recently
In a new post on X, analyst Ali Martinez has talked about an Ascending Triangle pattern for Dogecoin. The “Ascending Triangle” refers to a technical analysis (TA) formation that appears when the price of an asset consolidates inside a triangular region.
The ‘Ascending’ in the pattern’s name comes from the fact that this consolidation happens towards a net upside. There are two trendlines in this pattern: an upper level that’s parallel to the time-axis, tracing successive highs, and a lower one that has a positive slope, connecting successive higher lows.
Just like with any other consolidation pattern in TA, the upper level of the triangle is likely to be a source of resistance in the near future, while the lower one that of support. A break out of e
We współpracy z: https://www.newsbtc.com/news/dogecoin/dogecoin-breaks-ascending-triangle-16-crash/
