While Bitcoin’s $100K celebration is still on, altcoins have also started gaining momentum, moving towards a crucial resistance level. At the time of publication, the cryptocurrency is revolving around $0.448 with an 8.8% hike in the previous 24 hours.
Dogecoin (DOGE) Prepares for a Massive Breakout
Dogecoin (DOGE), the biggest memecoin, breached a crucial resistance level at $0.42, signaling a massive breakout in the memecoin’s price. A successful breakout above $0.42 would mark a crucial technical breakthrough for the memecoin to set the stage to cross an all-time high at $0.73. Technical indicators suggest that DOGE may have the necessary fuel to sustain a breakout and challenge its previous ATH with a target of $0.83.
Dogecoin: symmetrical triangle breakout CONFIRMED! Price will most likely re-test as support and then move higher. $DOGE pic.twitter.com/JwDlvbJvYN
— KrissPax (@krisspax) December 5, 2024
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Many experts speculated that DOGE may be gearing up for a massive breakout after Bitcoin’s milestone of $100K. Technical indicators reveal a rise in trading volume and increased whale accumulation. The crypto analyst, KrissPax has confirmed a bullish breakout for Dogecoin (DOGE) from a symmetrical triangle pattern. The pattern signals a strong upward momentum.
However, the technical signal also suggests that DOGE may soon retest the breakout before continuing its rise. “If Dogecoin durably breaks out of this consolidation to the upside then the price target of this pattern is the first price target I laid out months ago and that is .93 cents maybe it stretches up to $1.05”, another analyst shares his bullish prediction on X.
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Also Read: Essential Cryptos to Watch in 2024: Shiba Inu, Dogecoin, Pepe Coin and BlockDAG
