Dogecoin Descending Triangle Breakdown Potential
2024-11-13

hello guys!

it is my perspective about #doge:



 but let's dive into a lower time frame:
 
Triangle Pattern: Dogecoin is forming a descending triangle pattern, which typically signals a bearish continuation if support is broken.

Resistance Level: The price is facing resistance near $0.41, as indicated by the upper boundary of the triangle.

Support Zone: The lower boundary of the triangle around $0.36 serves as the immediate support. A break below this level could indicate a further drop.

Target Zone: If Dogecoin breaks below the support, it could move towards the $0.31 - $0.32 area, which serves as a significant support zone.

Risk Management: Watch for a possible reversal if the price fails to break below support, as this could invalidate the bearish setup.