Dogecoin Forms Morning Star Pattern, Eyes $0.35 Breakout
Will Dogecoin (DOGE) hold above $0.30 for a bullish breakout to the $0.35 mark?As Bitcoin hovers near the $93,000 support level, Dogecoin has dropped by 2.75% over the past 24 hours. Despite the bearish continuation and high fluctuations, Dogecoin remains above the $0.30 mark, with a market cap of $46.16 billion.As a whale shows confidence in the largest meme coin, the underlying sentiment hints at a bullish resurgence. With support from a divergence in the 4-hour RSI, could Dogecoin start a breakout rally in 2025?Dogecoin Price ChartOn the 4-hour chart, Dogecoins price action shows solid support around the $0.30 mark. However, the long-standing resistance trendline keeps bullish growth in check, creating a consolidation pattern.Currently, the compression in Dogecoins price trend forms a descending triangle pattern, cementing the crucial support at the $0.30 psychological level. This coincides with the 23.6% Fibonacci retracement level, further solidifying its importance.
Text source: The Crypto Basic
