A prominent analyst says Dogecoin (DOGE) could cause a spike in the short term, which it did in April.
The person known in the industry as Justin Bennett told his 73,300 Twitter followers that the current price movement of the top crypto meme reflects a technical pattern last seen six months ago when DOGE printed a huge rally afterwards.
“DOGE does what it does best.
The last two breakouts triggered a rally of 1,000% or more.
The most recent consolidation lasted three times as long as the consolidation before the outbreak in April and showed a profit of 1,200%. ”
The source: Justin Bennett / Twitter
According to the analyst’s chart, DOGE prints a large symmetrical triangle, a neutral pattern, but it usually leads to a continuation of the previous trend. If DOGE Bennett’s scenario follows, the 10th largest crypto asset could rebound towards $ 3, a potential increase of 1.150% from its current price of $ 0.24.
Bennett is also bullish on DOGE in the short term, suggesting that the 10th largest crypto asset is preparing to break above a descending resistance line.
“DOGE has returned to the resistance.
Any consolidation below this level is a very positive sign as it shows that the bulls are expecting a breakout and are going up. ”
The source: Justin Bennett / Twitter
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Dogecoin Shows Signs of Upcoming Growth
A prominent analyst says Dogecoin (DOGE) could cause a spike in the short term, which it did in April.
The person known in the industry as Justin Bennett told his 73,300 Twitter followers that the current price movement of the top crypto meme reflects a technical pattern last seen six months ago when DOGE printed a huge rally afterwards.
“DOGE does what it does best.
The last two breakouts triggered a rally of 1,000% or more.
The most recent consolidation lasted three times as long as the consolidation before the outbreak in April and showed a profit of 1,200%. ”
The source: Justin Bennett / Twitter
According to the analyst’s chart, DOGE prints a large symmetrical triangle, a neutral pattern, but it usually leads to a continuation of the previous trend. If DOGE Bennett’s scenario follows, the 10th largest crypto asset could rebound towards $ 3, a potential increase of 1.150% from its current price of $ 0.24.
Bennett is also bullish on DOGE in the short term, suggesting that the 10th largest crypto asset is preparing to break above a descending resistance line.
“DOGE has returned to the resistance.
Any consolidation below this level is a very positive sign as it shows that the bulls are expecting a breakout and are going up. ”
The source: Justin Bennett / Twitter
Join Bitcoin Magazine Telegram to keep track of news and comment on this article: https://t.me/coincunews
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According to Dailyhodl
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