Rising Wedge: "Continuation"OKX:DOGEUSDT Analysis – Potential Downtrend Continuation
The bulls initially pushed the price above the rising wedge but failed to hold it as support. As a result, the price retraced, breaking below the trendline once again. The bears not only successfully breached this level but also converted the upper trendline into resistance. Subsequently, within 2 to 3 hours, the price broke below the lower trendline, signaling further bearish momentum.
Traders should be cautious of a potential downtrend continuation. At the $0.161694 level, a large-scale liquidation of approximately $3.01 million is present, making it a potential profit-taking zone if the bears manage to hold the lower trendline as resistance.
This is just my perspective—trade wisely! 🤞⚡💰
