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DOGE Forms Head and Shoulders Pattern Near $0.13978
⬤ Dogecoin’s showing some interesting technical action right now, with a classic head and shoulders pattern taking shape on the 4-hour chart. After a solid rally, DOGE has cooled off and entered a consolidation phase where key price levels are starting to matter more.
⬤ The pattern’s got all the usual pieces—a left shoulder, a higher peak that forms the head, and now a right shoulder that’s taking shape. The neckline sits right around $0.13978, which has turned into a pretty important support zone. Price keeps bumping into this level, testing it over and over, which tells you it’s a line worth watching.
⬤ What’s notable is how momentum’s dropped off after that peak. The right shoulder’s printing lower highs, and the $0.13978 zone keeps coming back into play as a reference point for where buyers and sellers are clashing. Recent candles show DOGE testing this support again, making it the key structural level traders are watching right now.
⬤ This setup matters beyond just Dogecoin. Head and shoulders patterns typically show up when momentum’s shifting, and with DOGE sitting right at a widely-watched technical level, what happens at $0.13978 could influence short-term sentiment across the crypto market. Since DOGE is one of the most actively traded digital assets, its reaction here might signal broader changes in risk appetite and directional confidence.