Technical analysis by Ily_SA about Symbol DOGE: Buy recommendation (12/7/2024)

DOGE is leveraging its current momentum, consolidating after a significant rally. A key area to watch for a breakout is the $0.45–$0.46 zone, which could act as the trigger for another bullish surge. If broken, DOGE has the potential to reach its all-time high (ATH).Despite Bitcoin experiencing a 10% dip, largely due to profit-taking, DOGE has shown resilience, maintaining its consolidation and staying unaffected by broader market fluctuations. This stability indicates the presence of a strong buyer actively accumulating, anticipating further price growth. From a technical perspective, an ascending triangle is forming on the 4-hour chart, alongside consolidation above the 50-day moving average (MA-50). These signals reflect robust buying interest.Key Levels to Monitor:Resistance Levels: $0.45, $0.463, $0.48Support Levels: $0.422, $0.400While the price remains within the current pattern, a retest of the MA-50 or critical support levels could occur before the next upward move. However, a decisive breakout above the primary resistance zone would likely fuel a continuation of the rally, targeting new highs.This setup underscores DOGE's potential for sustained growth, making it an asset to watch closely.DON'T FORGET TO FOLLOW OUR TELEGRAM CHANNEL FOR FREE FOREX & CRYPTO SIGNALS https://t.me/AFTechTradesJOIN OUR YOUTUBE FOR EDUCATIONAL VIDEOS http://www.youtube.com/@Aftechtrades