Crypto analyst Balo (@btcbalo) has highlighted a major technical breakout on 
the Dogecoin (DOGE/USD) chart that suggests a bullish trend in the near 
future. Balo&#8217;s analysis, based on a 4-hour chart, points to several key 
technical developments that are driving expectations of a continued upward 
movement of the Dogecoin price. Why Dogecoin Looks Poised To Rally A 
cornerstone of Balo’s assessment centers on Dogecoin’s decisive breach of a 
longstanding downtrend line on December 28. This downtrend line, originally 
established from the December 8 apex of $0.48, had served as a formidable 
resistance level, effectively dictating DOGE’s price movements throughout 
December. Related Reading: Dogecoin To Rally 6,770% If This Pattern Holds: 
Crypto Analyst The breakout above this trend line marks a critical turning 
point. Following this ascent, Dogecoin experienced a minor retracement in 
which the memecoin swiftly retested the breached trend line. However, the 
retest was successful, reinforcing the bullish outlook for Dogecoin. 
Complementing the breakout from the downtrend line is the dissolution of a 
descending triangle pattern that had been forming since December 21. A 
descending triangle is characterized by a series of lower highs converging 
with a relatively flat support level, often signaling a potential bearish 
continuation. However, Dogecoin’s ability to break out of this formation 
today, on January 2 suggests a shift in market sentiment. The emergence from 
the descending triangle, coupled with the breakout, enhances the bullish 
narrative, although a retest of the triangle’s upper boundary could provide 
further validation of this upward trend. Integral to Balo’s thesis of a major 
breakout is also the volume profile, which offers a nuanced understanding of 
trading activity at various price levels. Dogecoin has rebounded from the 
substantial support at the highest volume cluster around $0.32, indicating a 
strong base of accumulated trading interest. Related Reading: Dogecoin Teeters 
Between ‘Price Discovery’ And ‘Catastrophe’: What’s Next? To the upside, 
volume is thin until the $0.40 region, where there is a huge cluster up to 
$0.43. This clustering implies that above this zone, DOGE could encounter 
minimal resistance, paving the way for Dogecoin to target its yearly high of 
$0.4834, recorded on December 8. Further reinforcing the bullish outlook is 
the completion of the ABC pattern on Dogecoin’s chart. The ABC pattern is a 
corrective sequence in technical analysis that typically signifies the 
termination of a retracement phase and the continuation of the preceding 
trend. In Dogecoin’s case, the finalization of this pattern aligns seamlessly 
with the other bullish indicators derived from the breakout and volume profile 
analysis. Thus, Balo’s remark “DOGE [is] starting to break out, I don&#8217;t see 
any reason to stop now. New highs real soon,” could signal that DOGE is 
heading for a new high. At press time, DOGE traded at $0.34. Featured image 
created with DALL.E, chart from TradingView.com

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T3 Financial Crime Unit (T3 FCU) has frozen criminal assets valued at $100 
million across five continents. Formed by Tether, TRON, and TRM Labs in August 
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organized schemes that rely on blockchain transactions. It analyzes on-chain 
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[…]
The post How Tether, TRON, TRM Labs froze $100 million in stolen digital 
assets appeared first on CryptoSlate.

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