Dogecoin is currently seeing reasonable upside following the Bitcoin recovery above $71,000. This has sent the whole crypto market into a state of euphoria, and the DOGE price has crossed the $0.16 resistance while at it. This bullish trend is expected to continue, as one analyst points out that Dogecoin has formed a bullish triangle pattern.
Dogecoin Triangle Pattern Points To More Upside
In a TradingView post, crypto analyst Lingrid pointed out an interesting formation on the Dogecoin chart. According to the analyst, the meme coin has successfully formed a triangle pattern, which has been historically bullish for the price.
Explaining how this came to be, the crypto analyst explained that the market has been consolidating below the upper border of the triangle. Now, this triangle pattern often leads to a price squeeze, which is very bullish for its price.
Lingrid identified a range zone for Dogecoin just above $0.15, which was important to the formation of the triangle.
We współpracy z: https://bitcoinist.com/dogecoin-forms-bullish-triangle/
