Dogecoin Cup And Handle Taking Shape – Big Move Incoming?
Dogecoin’s price is down more than -57% from its December 8 high of 0.4843, but its lowest point may be close. In a technical analysis shared on X, Rose Premium Signals (@viprosetr) Highlights The classic “cups and handles” pattern drives a potentially bullish Dogecoin (Doge) setup.
Dogecoin cups and handles may appear
According to the chart, the Governor’s price may face the last foot before finding its lows in the $0.16896 support area. This level marks the basis of possible cup and handle patterns, characterized in form, characterized by a circular “cups” followed by a smaller consolidation or “handle”. Technically, the Cup stage reflects the market’s efforts to find the bottom, while the handle stage usually forms a brief callback or lateral movement before a potential breakthrough.
The key zone for Doge’s next move seems to be close to $0.29124. If the price gathers above this threshold, it may confirm the formation of the cup and handle and may trigger a powerful upward swing. The chart shows that traders can calculate daily or weekly decisively as confirmation signals above $0.29,124 and may introduce Bullish momentum.
Related Readings
“Doge shows strong bullish potential as it approaches the critical reversal zone. Price has reached $0.16896 support, aligned with potential cup and handle sets. A breakthrough above $0.29124 may confirm a rally to a new high.
As far as the rising target is concerned, the rose premium signal indicates that if the cup and handle pattern work as expected, the Doge could climb to the $0.50 to $0.60 range. This goal corresponds to historical areas that increase trading activity and psychological levels, which usually attract traders’ attention. The analysis further points to the potential for further upside, suggesting that Dogecoin’s trajectory could exceed $0.60 Positive emotions strengthen.
“The long-term target price is close to $0.50 – $0.60, with a potential further upside. If the momentum continues, Dogecoin can reclaim its meme coin throne and push toward higher levels,” the analyst said.
Related Readings
This comment highlights Doge’s ability to restore its position in top meme coins. While recent souvenir mania has been filled with thousands of smaller tokens, thus diverting the original souvenir Dogecoin, the landscape may be shifting. Follow the Memecoin bubble burst – reaching peak trump cardMelania and Libra – The focus will soon return to Doge when traders seek more established assets in the field.
From a technical standpoint, a decisive breakthrough with continuous momentum can reignite retail and institutional interest, push Dos to higher levels of resistance and confirm potential cup and handle patterns.
At press time, Doge’s trading price was $0.207
Featured Images created with dall.e, Charts for TradingView.com
