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- Based on “ali_charts” on X, Dogecoin is ready for a spike in volatility, following a Bollinger band squeeze.
- Ali confirmed that the indicator is experiencing its tightest squeeze since October 2023.
- The Bollinger bands squeeze coincides with a possible breakout from a descending triangle on Dogecoin’s every day chart.
Based on “ali_charts” on X, a famend technical and on-chain crypto analyst, Dogecoin is ready for a spike in volatility. In a current publish on X, Ali highlighted a major sign within the Bollinger bands indicator on DOGE’s four-hour chart. He confirmed that the indicator is experiencing its tightest squeeze since October 2023.
Ali connected a historic chart of the DOGE/USD pair, exhibiting how the flagship meme coin rallied after the October Bollinger bands squeeze. He confirmed that DOGE surged from a $0.0569 low in a sustained rally for 2 months. DOGE gained nearly 90% through the rally after climbing to $0.1075 by December 2023, based on knowledge from TradingView.
The present Bollinger bands’ squeeze on Dogecoin’s four-hour chart coincides with a sideways motion on the meme coin’s every day chart, based on TradingView’s knowledge. The highest meme coin has moved alongside horizontal assist across the $0.0772 worth stage because the starting of the 12 months.
Along with the horizontal assist, a downward trendline from the December 2023 excessive shaped a resistance above DOGE’s worth, which has been acknowledged because the starting of the 12 months. A mixture of the downward trendline and horizontal assist shaped a descending triangle nearing a breakout on Deogecoin’s every day chart.
The present chart formation on Dogecoin’s every day chart, mixed with the Bollinger bands squeeze recognized by Ali, signifies impending worth volatility following historic patterns. It additionally suggests an exhaustion within the downward momentum that has pushed DOGE’s worth down by 30% since reaching $0.1075 final December.
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