In a publish on X in the present day, crypto analyst Satoshi Flipper (@SatoshiFlipper) shared a day by day chart of DOGE/USDT on Binance that highlights what he calls a “monster falling wedge.” The chart shows Dogecoin’s worth shifting inside two converging trendlines—one descending from the coin’s current swing highs, and the opposite descending at a shallower angle from its brief‐time period lows, forming a traditional wedge construction.
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In keeping with the chart, Dogecoin is presently buying and selling within the $0.21–$0.22 vary, hovering simply above the wedge’s decrease boundary. This trendline extends from the coin’s mid‐December ranges—when Dogecoin first started its downward trajectory—by its successive decrease lows, culminating close to the apex in early March. In the meantime, the higher boundary of the wedge connects a collection of descending peaks from the coin’s native highs, together with one in mid-January, sloping downward into the identical apex area.
A ‘falling wedge’ is often considered by technical merchants as a potential bullish reversal pattern, significantly when accompanied by lowering quantity through the consolidation section. The thought is that as sellers turn out to be exhausted, consumers could start stepping in close to the wedge’s help line, driving worth momentum upward as soon as the resistance line is damaged.
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Within the chart Satoshi Flipper shared, a dashed arrow initiatives a potential bullish transfer if Dogecoin can decisively break above the wedge’s prime boundary. Whereas no ensures exist in crypto markets, this hypothetical trajectory arcs from present worth ranges round $0.21 to as excessive because the $0.50 area by late-April. The chart additionally reveals a notable horizontal help zone under the market, hovering round $0.10–$0.15, which dates again to Dogecoin’s earlier base earlier than its giant run‐up.
In the meantime, sentiment amongst different crypto analysts on X seems divided. Carlos Garcia Tapia (@CAGThe3rd) cautions that he sees “h patterns in every single place” and suggests a possible retracement earlier than the subsequent leg down: “Unhappy to say, that is all cooked, bois. DOGE 14 cents :(“
In response to a different consumer who was unfamiliar with the “h sample,” Tapia reiterated his view of a possible downward move. “Just about a retracement earlier than the subsequent leg down,” he said. “This contrasts with the extra optimistic stance from Suzzy | DeFi (@SuzzyDefi), who highlighted a powerful wick off the $0.19–$0.20 help zone:
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“Took a look at DOGE, and I simply noticed a powerful wick off the $0.19 – $0.20 help, giving me serious bullish vibes! Patrons are stepping in, and if we see a inexperienced candle subsequent, DOGE may very well be heading towards $0.25+ quickly.”
At press time, DOGE traded at $0.20635.
Featured picture created with DALL.E, chart from TradingView.com
