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DOGE Forms Bull Pennant After Rally to $0.128
⬤ Dogecoin shifted into consolidation mode after a powerful rally, compressing into a textbook bull pennant on the hourly chart. The pattern shows momentum taking a breather after the recent surge, with DOGE/USD settling into a tighter range instead of reversing downward.
⬤ The chart captures a vertical spike that pushed Dogecoin from around $0.12 to nearly $0.128 in quick succession. After that jump, the price started forming lower highs and higher lows, creating the classic triangular pennant shape. Volatility cooled off as the range narrowed, with buyers and sellers finding temporary balance. The key detail: this consolidation is happening right near the top of the move, showing solid support so far.
⬤ The pennant’s taking shape between descending resistance and rising support, squeezing toward a breakout point. During this phase, DOGE has stayed above the $0.126 level while testing the upper boundary around $0.127-$0.128 multiple times. Sellers haven’t managed to drag the price back down, keeping the structure elevated. The hourly timeframe really highlights how fast Dogecoin went from explosive expansion to controlled compression.
⬤ These tight consolidation zones often set the stage for the next big move as the market digests recent action. For Dogecoin, holding near these highs keeps traders watching short-term momentum closely. How DOGE plays this pattern could ripple through other momentum-driven crypto assets that tend to react fast to shifts in trading activity.