Usman Salis
⬤ Dogecoin is developing a bullish cup and handle pattern on the hourly chart, with price consolidating just below a key resistance zone. The setup shows DOGE completing the rounded base and now moving into the handle phase beneath resistance—a typical progression for this pattern.
⬤ The chart shows Dogecoin dropping earlier before forming a rounded recovery that created the cup. Price bottomed around $0.120, then gradually climbed back toward the $0.133–$0.134 zone where it's been meeting resistance. This horizontal level has repeatedly stopped upward attempts, marking the pattern's upper boundary.
⬤ After reaching resistance, Dogecoin pulled back in a controlled manner to form the handle. Price has been moving in a tight range between $0.130 and $0.132, showing shallow retracement. The handle is proportionally smaller than the cup, which fits the classic technical definition and points to consolidation rather than reversal.
⬤ This pattern matters because Dogecoin often reflects short-term momentum shifts in the crypto market. How price behaves near the $0.133 resistance will likely determine whether consolidation continues or gives way to a directional breakout.
Usman Salis
