Dogecoin (CRYPTO: DOGE) is up 6% on Friday, and technical indicators currently present a mix of signals, with several potential bullish breakout scenarios.
What Happened: In a Chart Action video podcast, a technical analyst identified a distinct falling channel pattern following Dogecoin’s breakout from a previous falling wedge.
Currently trading below the 0.185 Fibonacci retracement level, Dogecoin continues to form lower highs and lower lows.
The weekly 9-period moving average remains a critical marker.
“If we’re below that line, it’s a bad position; if we break above it, then …