Descending triangles and descending trendlines are a reflection of sustained selling pressure. When price decisively breaks above such structures, it can indicate a change in market sentiment, especially if accompanied by strong follow-through candles.
Keeping this in mind, the important part of the setup is not just the breakout, but what happened afterward.
Here’s The Next Stop For DOGEIf Dogecoin maintains support above the broken trendline, the next logical upside target is at the most recent swing high around $0.115 to $0.12. That region previously acted as rejection territory in late January before Dogecoin resumed its decline, making it the first major resistance overhead.
At the time of writing, Dogecoin is trading at the reclaimed $0.10 price level.
