Dogecoin’s Macro Breakout Setup Path to $11 Unfolding
Dogecoin is exhibiting a rounding bottom formation, with price recently completing the Adam and Eve structure, achieving its measured move towards the $0.475 liquidity zone.
The ongoing corrective retracement is structurally aligning with a classic re-test of the prior demand zone, now acting as a re-accumulation base, reinforcing bullish strength. The key resistance remains at the proposed neckline region, which also serves as the short-term target and a pivotal breakout threshold.
A decisive break and acceptance above this level would validate trend continuation, triggering the next impulsive expansion phase. A sustained breakout from this structural zone would confirm trend continuation, with the ultimate technical objective aligning with the $11.16 macro target, reflecting the full measured move projection of the prevailing formation.
The ongoing corrective retracement is structurally aligning with a classic re-test of the prior demand zone, now acting as a re-accumulation base, reinforcing bullish strength. The key resistance remains at the proposed neckline region, which also serves as the short-term target and a pivotal breakout threshold.
A decisive break and acceptance above this level would validate trend continuation, triggering the next impulsive expansion phase. A sustained breakout from this structural zone would confirm trend continuation, with the ultimate technical objective aligning with the $11.16 macro target, reflecting the full measured move projection of the prevailing formation.
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Price action has completed a corrective ABC wave within a descending channel, leading to a re-accumulation zone. The structure suggests a potential reversal, with a breakout targeting the 0.71475 level.
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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.