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An analyst has pointed out how Dogecoin has entered into a zone that kicked 
off major bull runs for the memecoin in the past. Dogecoin Is Trading Near 
Lower Level Of Historical Ascending Channel In a new post on X, analyst Ali 
Martinez has talked about how the weekly Dogecoin price has entered into a 
historically important buy zone. Below is the chart shared by Martinez, 
showing this trend. As is visible in the graph, the Dogecoin weekly price has 
roughly followed an Ascending Channel over the past decade. The &#8220;Ascending 
Channel&#8221; here refers to a technical analysis (TA) pattern that forms when an 
asset trades between two parallel trendlines angled upward. Related Reading: 
Bitcoin Short-Term Holders Are Capitulating—Will June Pattern Repeat? The 
upper line of the pattern tracks successive higher highs in the price, while 
the lower one connects higher lows. The former is considered to be a source of 
resistance and the latter that of support. Though, while this may be so, 
Dogecoin has dipped under the lower line of its long-term Ascending Channel a 
few times over the years, with the latest instance coming this year. That 
said, in each of these occurrences, the asset found support at a trendline a 
bit below the Ascending Channel&#8217;s lower level. The analyst has described the 
shaded area between the two lines as a &#8220;historically strong buy zone.&#8221; From 
the chart, it&#8217;s apparent that multiple major bull runs in DOGE found their 
start after the price retested this zone. At present, the token is trading 
inside the area, with recent attempts to re-enter the Ascending Channel ending 
up in failure. It now remains to be seen whether a breakout into the channel 
would follow for Dogecoin and potentially kick off another rally, or if this 
cycle would break the pattern. Related Reading: Dogecoin Whales Buy The Dip: 
$1 Billion DOGE Added The Ascending Channel is just one type of pattern with 
parallel trendlines that exists in TA. When the asset&#8217;s consolidation occurs 
toward the downside instead, the formation is known as a Descending Channel. 
As pointed out by Martinez in another X post, another memecoin, Pudgy Penguins 
(PENGU), has broken out of such a channel recently. As displayed in the above 
chart, the 1-hour price of Pudgy Penguins was sliding down inside the 
Descending Channel during the last two weeks, but it has just found a surge 
above its resistance line. &#8220;PENGU targets $0.041 after breaking out of a 
descending channel!&#8221; says the analyst. DOGE Price At the time of writing, 
Dogecoin is trading around $0.21, up almost 4% over the last 24 hours. 
Featured image from Dall-E, charts from TradingView.com

Dogecoin Is Right Where Past Bull Runs Have Taken Off: Analyst

Binance has partnered with Mastercard to let European users convert crypto to 
fiat and withdraw funds directly to eligible Mastercard accounts. The new 
features offer faster and more convenient access to crypto earnings, improving 
off-ramping options. European Binance Users Can Now Off-Ramp Crypto Directly 
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Gemini co-founders Cameron and Tyler Winklevoss have made an undisclosed 
investment in American Bitcoin Corp., a mining firm partly owned by US 
President Donald Trump’s sons Eric and Donald Jr. Speaking to Bloomberg, Hut 8 
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Chainlink is gaining momentum as whale wallets quietly expand their holdings, 
adding more than 0.5% of the token’s supply in just over a week. Chainlink 
(LINK) was trading at $18.89 at press time, up 13% in the past 24 hours,…

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A crypto trader has said early Bitcoin investors very likely wouldn’t have the 
conviction to hold onto the cryptocurrency for over a decade through its sharp 
corrections.