An analyst at TradingView presented a technical view that contrasts with prevailing market terms, suggesting that Dogecoin still forms the cup phase in a cup and handle pattern rather than complete the handle As many people think.
This Alternative perspective frames The latest price movements not as a retest after a breakout, but as part of a much longer consolidation phase that began after Dogecoin’s top 2021. Yet consensus is the same, and this installation suggests that the Dogecoin price is recovering against $ 0.4.
Copper formation since 2021 is still in progress
According to the analyst, the copper and handle pattern has been visible on Dogecoin’s charts for almost four years, with price rounding of a wide base that extends back to its previous maximum time. This interpretation deviates from the majority view, which claims that Dogecoin completed the cup structure, broke out of the neckline resistance at the end of last year and is Now in the handle phase before another leg upwards.
Instead, the current analysis claims that Dogecoin remains in the later stages of the Copper phase, without handle formation, and that accumulation is still developing. Price holding for important exponential variable average values supports the idea that buyers gradually build positions during this extended bottom process.
The resistance zone about $ 0.48 is seen differently in this analysis as only part of the cup formation. From this perspective, the outbreak has not occurred, and any movement towards $ 0.4 would be part of a continued upward grinding into the throat. This does not focus on handle formation or re -examination of the breakout point, but on the development of a complete cup structure that can eventually set the stage for a classic handle and breakout rally.
Accumulation in the cup phase to drive Dogecoin to new heights
Many analysts have written by Dogecoin’s latest dragback as part of a handle -review after a breakout, but this technical installation means that the price is still climbing towards a breakout point that is Yet to be reached. Based on this view, a motion for $ 0.4 can serve as part of the final uptake in the cup structure, after which a handle can finally take shape.
If the pattern plays out as described, Dogecoin could see short -term profits before pause for consolidation at higher levels between $ 0.4 and $ 0.5. The real breakout Above the neck ring resistance is above these levels before a subsequent handle formation.
However, the most remarkable price level to look at for a real confirmation of the haussertade is $ 0.48. At the time of writing, Dogecoin is traded at $ 0.1967. The last 24 hours have been characterized by a short break over $ 0.2, which is currently the most significant short -term price resistance to overcome.
Trained Image from Adobe Stock, charts from tradingview.com
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