Dogecoin price eyes 150% upside boom on a 'falling wedge' pattern.
In detail, a falling wedge pattern occurs when the price trends lower while fluctuating between two downward sloping, converging trendlines. In a perfect scenario, the setup results into the price breaking out of the descending range to the upside, rising by as much as the maximum distance between wedge's upper and lower trendlines.from the wedge's lower trendline two weeks ago opens up its possibilities to continue the move upside toward the upper trendline — near $0.18.
Additionally, Dogecoin's track of record of showing a period of highly positive correlation with Bitcoin — at 0.94 against the perfect score of 1 as of March 27 — could also limit its bullish bias if the latter drops due to ongoing macroeconomic and geopolitical pressures.
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