An analyst has explained how Dogecoin could be at a make-or-break level right now based on a technical analysis (TA) chart pattern.
Dogecoin Is Retesting The Lower Bound Of An Ascending Channel
In a new post on X, analyst Ali Martinez has shared a TA pattern potentially forming in the meme coin’s 1-week price chart. The pattern in question is an Ascending Channel, which appears when an asset trades between two parallel trendlines slopped upwards.
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As the price curve moves inside the channel, it observes consolidation toward the upside. The upper line of the pattern acts as a ceiling, providing resistance when the asset retests it. Similarly, the lower line acts as a point of support.
In the scenario that one of these levels breaks,
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