The DOGE/USDT pair is in a long-term symmetrical triangle pattern, a classic continuation pattern that suggests a significant price movement is imminent. This pattern is formed by a series of lower highs and higher lows, creating a narrowing trading range. The price is currently at a critical decision point, testing the upper resistance line of the triangle.
Key Technical Analysis:
Symmetrical Triangle Pattern: This pattern has been forming since mid-2020. The base of this triangle, from the low around $0.0011 to the high near $0.45, represents a massive price range.
Target Price Calculation: The standard way to calculate a target price for a symmetrical triangle breakout is to measure the height of the pattern's base and project it from the breakout point.
Base Height: The widest part of the triangle spans from approximately $0.0011 to $0.45, a difference of about $0.4489.
Breakout Point: A confirmed breakout would likely occur above the current resistance level, which is near $0.295.
Target Price: Projecting the base height from the breakout point ($0.295 + $0.4489) gives us a long-term target of approximately $0.7439.
Potential Scenarios & Trade Plan:
Bullish Scenario: A decisive close above the triangle's upper trend line, ideally with a significant increase in volume, would confirm a bullish breakout.
Entry: A confirmed breakout and retest of the upper trend line as support.
Target: The first major target is $0.7439. Subsequent targets would be the all-time high and potential price discovery beyond that.
Invalidation/Stop-Loss: A move back inside the triangle or a close below the lower trend line would invalidate the bullish thesis. A tight stop-loss could be placed just below the breakout level.
Bearish Scenario: A breakdown below the triangle's lower trend line, particularly on high volume, would be a strong bearish signal.
Key Technical Analysis:
Symmetrical Triangle Pattern: This pattern has been forming since mid-2020. The base of this triangle, from the low around $0.0011 to the high near $0.45, represents a massive price range.
Target Price Calculation: The standard way to calculate a target price for a symmetrical triangle breakout is to measure the height of the pattern's base and project it from the breakout point.
Base Height: The widest part of the triangle spans from approximately $0.0011 to $0.45, a difference of about $0.4489.
Breakout Point: A confirmed breakout would likely occur above the current resistance level, which is near $0.295.
Target Price: Projecting the base height from the breakout point ($0.295 + $0.4489) gives us a long-term target of approximately $0.7439.
Potential Scenarios & Trade Plan:
Bullish Scenario: A decisive close above the triangle's upper trend line, ideally with a significant increase in volume, would confirm a bullish breakout.
Entry: A confirmed breakout and retest of the upper trend line as support.
Target: The first major target is $0.7439. Subsequent targets would be the all-time high and potential price discovery beyond that.
Invalidation/Stop-Loss: A move back inside the triangle or a close below the lower trend line would invalidate the bullish thesis. A tight stop-loss could be placed just below the breakout level.
Bearish Scenario: A breakdown below the triangle's lower trend line, particularly on high volume, would be a strong bearish signal.
إخلاء المسؤولية
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إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.