Dogecoin Could See A 60% Move If It Breaks Out Of This Range, Says Analyst — But What Determines Its Direction?

A widely followed cryptocurrency analyst on Thursday projected a 60% price move for Dogecoin (CRYPTO: DOGE) once it breaks free from a symmetrical triangle pattern.

What happened: Ali Martinez said the dog-themed cryptocurrency looks “prime” for a 60% move. He highlighted a symmetrical triangle chart formation, characterized by two converging trendlines. It typically indicates a period of consolidation in the market before a potential breakout or breakdown.

“All you need to do is wait for a daily close outside of the $0.16 to $0.22 range to determine the direction of the trend,” he added

Full story available on Benzinga.com