Symmetrical Triangle Signals Potential 30% Dogecoin Price Surge
Crypto analyst Ali Martinez identifies a symmetrical triangle chart pattern on the 4-hour Dogecoin price chart, suggesting a potential 30% rally to $0.30. After dipping to $0.21 on August 22, the Dogecoin price briefly rebounded above $0.24 following Fed Chair Jerome Powell’s Jackson Hole speech. Martinez expects a bullish breakout measured by adding the triangle’s base to the breakout point. Traders should wait for two consecutive candlesticks to close above the upper trendline for confirmation of the breakout. At press time, Dogecoin price hovers around $0.2366, reflecting a 1% decline in 24 hours.
Bullish
The identification of a symmetrical triangle on the Dogecoin price chart indicates a consolidation phase preceding a typical continuation breakout. Historically, assets often resume their prior trend after a breakout from this pattern. In Dogecoin’s case, the prior move was upward, supporting a bullish outlook. The projected 30% rise to $0.30 is consistent with technical measures (triangle base projection), attracting momentum traders in the short term. Confirmation via two consecutive 4-hour closes above the trendline will likely trigger buying pressure and increased volume. In the long term, broader market factors (such as Fed policy and crypto sentiment) will influence sustainability, but the immediate technical setup provides a clear bullish catalyst.