TLDR
- Dogecoin price jumped 2.5% to $0.20 after Elon Musk posted an image featuring the Shiba Inu mascot on X, extending a 55% recovery from its recent low of $0.13
- Technical analysis shows DOGE forming an Adam and Eve double-bottom pattern with a neckline at $0.216, suggesting a potential 25% rally to $0.260
- The $0.26 target aligns with the 0.382 Fibonacci retracement level and coincides with support from an ascending trendline and 0.236 Fib line
- Futures data reveals heavy short liquidation zones between $0.215 and $0.27, which could trigger a short squeeze and accelerate upward price movement
- RSI indicator displays an inverse head and shoulders breakout pattern on the 4-hour chart, with analysts suggesting DOGE needs to hold above $0.20 to confirm momentum toward…more
Source coincentral.com
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