Crypto Sat recently took to X to share a technical insight on Dogecoin, revealing that the asset is showing signs of accumulation following a sharp correction. According to the analyst, the 2-hour chart is beginning to shape a potential double bottom pattern. Should this structure be confirmed, it might signal a renewed upward push for DOGE, catching the interest of short-term traders and long-term holders.
Make-or-Break Moment For Dogecoin: The Neckline Battle Ahead
Dogecoin is currently displaying the characteristics of a double bottom formation, a classic reversal setup that could signal a shift in momentum, as noted by Crypto Sat. The first bottom was established around the $0.170 mark, following a significant price drop, where buyers initially stepped in to defend the zone.
Shortly after, DOGE made a move back down for a second test of the same support area, with a higher low structure forming, suggesting weakening bearish pressure and the emergence of early accumul
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