Technical analysis by melikatrader94 about Symbol DOGE: Buy recommendation (10/28/2024)

hello guys.Pattern Identification: This chart suggests a potential "Cup and Handle" pattern, often considered a bullish continuation pattern. The rounded base forms the "cup," followed by a consolidation phase that could complete the "handle."Support Levels:The range between $0.05 and $0.07 shows strong historical support, providing a base for the current uptrend.Additional support is seen around the 0.382 Fibonacci level, at approximately $0.0889, which aligns with previous resistance and current price action.Resistance Targets:If the handle pattern completes and breaks upwards, Dogecoin could potentially reach $0.38 and $0.52 as intermediate targets.A breakout above the pattern’s neckline could lead to a long-term price target in the $3.80 area, aligning with the higher resistance levels shown.Outlook: A successful completion of this pattern might signal a bullish reversal for Dogecoin, but confirmation is needed. If it fails to hold support levels, the price could retest lower levels, particularly near the 0.618 Fibonacci retracement.around 25% upward movement from yesterday!it is running toward the targetDo you remember the last analysis about #doge?! it is forming the cup significantly