
An analyst at TradingView presented a technical outlook, which is contrary to the prevailing market mood in contrast Completion of the handle how many believe.
The Alternative perspective frames The latest price movements not as proof of an outbreak, but as part of a much longer consolidation phase that started after Dotecoins Peak from 2021. Nevertheless, the consensus is the same, and this setup indicates that the price of Dogecoin is able to recover in the amount of $ 0.4.
Cup formation has been in progress since 2021
According to the analyst, the cup and action pattern on the diagram of Dogecoin has been developing for almost four years, with the price rounding off a wide base that extends to its previous all-time high. This interpretation deviates from the majority view, which argues that Dogecoin has completed the cup structure, has broken out from the excerpt from the excerpt resistance at the end of last year Now in the action phase in front of another leg up.
Instead, the current analysis argues that Dogecoin remains in the last stages of the cup phase without the formation being confirmed and that the accumulation still develops. Price stock via important exponential moving average values supports the idea that buyers gradually build up positions during this drawn bottom process.

The resistance zone of 0.48 US dollars is observed in this analysis as only part of the cup formation. From this perspective, the outbreak has not occurred, and each movement in the direction of 0.4 US dollars would be part of a further upward grinding into the neckline. This does not focus on the formation of the handle or the renewed test of the breakout point, but on the development of a complete cup structure that could create the stage for a classic grip and a rally for breakout.
Accumulation in cup phase to bring Dogecoin to new heights
Many analysts have deprived Dogecoins recent withdrawal as part of a retest after a breakout, but this technical setup implies that the price is still increasing to an outbreak point still to be reached. Based on this outlook, a change in the direction of 0.4 US dollars could serve as part of the final upward trend in the cup structure, according to which a handle could finally take shape.
If the pattern takes place as described, Dogecoin could make short -term winnings before holding between $ 0.4 and 0.5 for consolidation at higher levels. The real outbreak Above the section resistance lies over these levels over the following handle formation.
Nevertheless, the most remarkable price level, which observes a real confirmation of the bullish sequel, is 0.48 USD. At the time of the letter, Dogecoin acts with $ 0.1967. The last 24 hours have been marked by a short interruption of over $ 0.2, which is currently the most important short -term price resistance.
Selected picture of Adobe Stock, diagram of tradingview.com

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