Price Action and Chart Pattern Analysis:
DOGE cup bottom happened around $0.05 with the rim around $0.48. That gives a depth of roughly $0.42. If the breakout occurs near the rim, the measured move target would be $0.90 zone.
This aligns with several analyst projections suggesting DOGE could reach $0.90 to $1.00 if the breakout confirms.
Another way to project this cup & handle is the fibonacci-based target. These levels suggest that if DOGE breaks above the handle and sustains momentum, $0.85–$1.00 is a realistic zone for profit-taking at 161.8% and 200% extension as 1-2-3 wave pattern.
Reliability of the Cup and Handle Pattern for DOGE
The cup and handle is a classic bullish continuation pattern, but when applied to Dogecoin, its reliability depends on several dynamic factors:
Strengths of the Pattern in DOGE’s Context
Historical Accuracy: DOGE has previously respected technical patterns like rounded bottoms or (THE CUP) and breakout channels (THE HANDLE), especially during alt coin rallies.
Current Setup: a well-formed cup and handle on DOGE’s weekly chart, with price rebounding from $0.14 and testing resistance at $0.2 zone which also the key resistance SMA50W and the downtrend channel (the handle)
WATCH OUT: still a possible throw-under pattern or a final bear trap liquidity below previous low!
Key Action: If breakout confirmed with volume > Follow BUY | if not, wait for retraced SMA20 or breakout support.
Always trade with affordable risk and respect your stop...
DOGE cup bottom happened around $0.05 with the rim around $0.48. That gives a depth of roughly $0.42. If the breakout occurs near the rim, the measured move target would be $0.90 zone.
This aligns with several analyst projections suggesting DOGE could reach $0.90 to $1.00 if the breakout confirms.
Another way to project this cup & handle is the fibonacci-based target. These levels suggest that if DOGE breaks above the handle and sustains momentum, $0.85–$1.00 is a realistic zone for profit-taking at 161.8% and 200% extension as 1-2-3 wave pattern.
Reliability of the Cup and Handle Pattern for DOGE
The cup and handle is a classic bullish continuation pattern, but when applied to Dogecoin, its reliability depends on several dynamic factors:
Strengths of the Pattern in DOGE’s Context
Historical Accuracy: DOGE has previously respected technical patterns like rounded bottoms or (THE CUP) and breakout channels (THE HANDLE), especially during alt coin rallies.
Current Setup: a well-formed cup and handle on DOGE’s weekly chart, with price rebounding from $0.14 and testing resistance at $0.2 zone which also the key resistance SMA50W and the downtrend channel (the handle)
WATCH OUT: still a possible throw-under pattern or a final bear trap liquidity below previous low!
Key Action: If breakout confirmed with volume > Follow BUY | if not, wait for retraced SMA20 or breakout support.
Always trade with affordable risk and respect your stop...
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.