DOGEUSDT → Consolidation moves into the distribution phase

DOGEUSDT is forming a consolidation in the format of a wedge. Within the consolidation, the price makes a false breakdown of support and thus feels the bottom of the market.


The price is forming a rather long descending wedge. The pattern is a bullish possibility to turn the market. After a false breakdown of the support, consolidation is formed above 0.0705, which successfully breaks the resistance of the wedge. The phase of consolidation on the market is smoothly passing into the phase of distribution (realization of accumulated potential)
The main task of the bulls is to hold the support area at 0.0705 by all means. If the position is successful, the price will go up. The medium-term potential in our case is the resistance at 0.09460.

Support levels: 0.0705, 0.0639
Resistance levels: MA200, 0.0817, 0.0946
I expect consolidation above this support with the subsequent formation of a medium-term impulse towards our targets.

Regards R. Linda!