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Dogecoin Gears Up For 60% Move—Will It Be Up Or Down?

  • Analyst Ali Martinez discusses how Dogecoin is near the end of a triangle pattern, which could lead to a 60% price move.
  • Dogecoin's price has been trading within a triangular channel, with the upper and lower trendlines potentially indicating resistance and support levels.
  • Different types of triangles like Symmetrical, Ascending, and Descending can affect the direction of the breakout based on the orientation of trendlines.
  • The current pattern in Dogecoin resembles a Symmetrical Triangle but slightly tilting towards the downside.
  • As Dogecoin approaches the end of the triangle, the likelihood of a breakout increases, with a potential 60% move in the cards.
  • The direction of the breakout will be determined by whether Dogecoin breaks out of the $0.16 to $0.22 range.
  • Dogecoin's current price hovers around $0.168, with a decrease of over 11% in the last seven days.

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