A promising bullish pattern has emerged in the world of Dogecoin, as traders eye potential price movements. The cup and handle formation on the 4-hour chart suggests that the popular cryptocurrency may be gearing up for a significant rally, and the material points to an encouraging trend.
Bullish Cup and Handle Pattern Identified
Trader Tardigrade has pointed out the bullish cup and handle pattern, which historically signals increasing momentum in the market. If this pattern unfolds as expected, Dogecoin (DOGE) could potentially reclaim levels above 30 cents, attracting the attention of both retail and institutional investors.
Implications for Dogecoin
The cup and handle formation is often seen as a strong indicator for traders looking to capitalize on upward price movements. This development is particularly noteworthy in the current market landscape.
