Dogecoin’s Potential Cup-and-Handle Pattern Indicates Significant Upside
- Dogecoin’s weekly chart suggests a potential cup-and-handle pattern, spanning the entire Dogecoin cycle from 2021 to 2025.
- The current price of Dogecoin is approximately $0.2268, positioned between the Fibonacci retracement levels of 0.50 and 0.618.
- Key resistance levels are identified at $0.2646 (0.618), ~$0.4181 (0.786), and ~$2.3119 (1.414 extension).
- Immediate support for Dogecoin is noted at $~0.1919 (0.50), with further support at $~0.1391 (0.382) and $~0.0934 (0.236).
Analyst badger (@badger0102) highlights a potential macro cup-and-handle formation in Dogecoin’s chart, suggesting significant upside if the pattern completes successfully, with targets reaching as high as ~$2.3119.
At present, Dogecoin trades around $0.225, with key resistance levels needing to be surpassed for further upward momentum to unfold according to this technical analysis pattern.
