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Dogecoin revealed after ‘Double Bottom’ was formed


Dogecoin

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The Doge has gained more than 2% to more than 16 cents since early Asian, reversed part of the slide of Monday from 16.63 cents to 15.67 cents, according to Data Source CoinDesk.

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Per Coindesk’s AI research, cryptocurrency formed a “double bottom pattern” around 15.7-15.8 cents zone with more than average volume. Bounce is consistent with recovery to market leader Bitcoin

who has been bouncing at $ 107,000 from overnight low around $ 105,200.

Double bottom forms after a known seller-off and characterized by two bottoms at approximately the same level, separated by a short recovery. A final move above high-logged during temporary recovery, as seen in DOGE’s case, is said to confirm a change in the bearish-to-bullish trend.

While the intraday momentum moved the bearish, the wider pattern of the lower highs, representing a parallel downtrend since the second half of May, remains intact.

The day -to -day price chart indicates that a convincing move above the lower 17 cents, established over the weekend, is required to validate the broader bearish setup.

Daily -Equal Price chart. (TradingView/CoinDesk)

Daily -Equal Price chart. (TradingView/CoinDesk)

Key ai insights

  • The Doge has formed a clear duplicate pattern undering around the $ 0.157- $ 0.158 zone, with more than average volume, especially at 13: 00-14: 00 hours on July 1.
  • Cryptocurrency has experienced a steady climb that ends with a bullish near $ 0.161, with an increase in volume that confirms the consumer’s interest.
  • In the last 60 minutes from July 2, 05:37 to 06:36, Doge showed a clear bullish trend, rising from $ 0.1605 to $ 0.1611, representing a 0.36% gain.
  • Price action is formed by an ascending channel, with known volume spikes at 06:06 pm and 06:07 (more than 4.4m and 6.0m respectively)Confirmation of strong consumer interests.
  • After reaching a local high $ 0.1611 at 06:14, Doge experienced a short pullback at $ 0.1606 at 6:27 before recovering to close the time at $ 0.1611.



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