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.