Despite this, the larger market structure remains neutral-bearish unless higher resistance breaks. Currently, the Dogecoin price is yet to breach resistance levels near $0.235-$0.24, where a significant liquidity pool, marked as “$$$” on the chart, is likely to attract sellers or trigger further buying pressure. This is near the $0.23 level, where Dogecoin previously got rejected.
Each Bull Flag cycle consists of a strong upward impulse followed by a downward consolidation, after which the price breaks out to new highs. The first breakout sparked a 90% rally, the second led to a 215% surge, and a massive 440% spike occurred after the third.
Featured image from Unsplash, chart from TradingView
