Dogecoin (DOGE) has broken out of a symmetrical triangle indicating bullish momentum and new targets.
Breakout and Targets for Dogecoin
Dogecoin has broken out from a symmetrical triangle, signaling bullish targets. The breakout occurred around $0.239 and now serves as a critical line of confirmation. Based on Fibonacci extension analysis, the first target is at $0.265, followed by $0.288, while the full measured potential extends to $0.31.
Market Overview and Liquidity
At the time of writing, Dogecoin is trading around $0.2488, reflecting a 3.46% gain in 24 hours. The market capitalization stands at $37.54 billion, with a trading volume of $3.27 billion a day, indicating high liquidity and active trader involvement in the market.
Support and Resistance Levels
The current consolidation range between $0.248 and $0.250 serves as a pivot zone where buyers and sellers are testing their strength after the breakout. Support is identified near $0.240, and a drop below this level could invalidate the breakout, while resistance is found close to $0.260.
The breakout of Dogecoin suggests a potential continuation of bullish sentiment. Support at $0.240 and resistance at $0.260 will be key levels for further movements.
