DOGE stuck in consolidation, but new highs are coming
2024-12-06

The weekly trade is turning bearish for the DOGE price rally as the buying pressure is failing to mount. The trading volume witnessed a drop of over 12% in the past couple of days, which has extended bearish possibility for the token. However, the technicals suggest the current accumulation may end soon, which may result in a 50% breakout close to its ATH. The daily chart of DOGE suggests the token may continue to remain sluggish for the next few days. 

The Bollinger bands are going parallel after displaying a huge expansion, substantiating the sideways trend. Meanwhile, the RSI is trying to enter the overbought zone despite a rejection, displaying the growing strength of the bulls. The price has faced a notable rise in the selling volume during the past trading day and now that the pressure has eased, the price is believed to range and reach the peak of the symmetric triangle. This could materialize a 50% upswing to mark levels above $0.6. 