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Dogecoin Liquidation Map Highlights This Zone as Must-Watch Target
Dogecoin (DOGE) traders are in a frenzy as the liquidation map reveals a massive short squeeze cluster forming near $0.208. The data suggests that this level may become the key battleground for upcoming market moves.
The Kingfisher, a well-known analyst and trader, has pinpointed this specific zone on his liquidation map as a must-watch target. According to the information shared by TheKingfisher, the largest short liquidation cluster is currently building up around $0.2079. This presents a massive magnet for price action, making it a crucial area of attention.
Notably, the map also highlights that long liquidations remain scattered, indicating less pressure from the downside. While DOGE has retraced significantly after reaching a swing high of $0.28, traders must keep a close eye on this newly identified key cluster.
On the technical front, Trader Tardigrade is pointing to an ascending broadening wedge pattern forming on the weekly chart. This specific formation has been responsible for massive gains in DOGE’s past price movements. If support continues to hold and the upper wedge line remains resistance, a projected swing could potentially reach $1.40.
In contrast, traders are also tracking an inverse head and shoulders pattern forming on the 1-hour chart. A breakout above the neckline around $0.210 would signal strong short-term upside towards $0.214-$0.218.
As DOGE trades near $0.2 with a market capitalization of over $10 billion, it is essential to be aware of these key price levels. Traders must monitor the situation closely and prepare for potential market moves.
Source: cryptopotato.com
