The crypto market experienced a notable downturn during mid-April, resulting in a considerable price correction across the board for many major cryptocurrencies. However, this retracement phase could present an advantageous chance to purchase some popular memecoins at a discount. Here is the top meme cryptocurrency with a strong bullish setup that can encourage a sustained recovery in the near future.
Dogecoin(DOGE)
Source- Tradingview
Over the past 10 months, the dogecoin price has been moving in a sideways strength under the influence of a symmetrical triangle pattern. The recent bounce back from this pattern converging trendline signals the traders actively respond to this pattern and therefore will also have a significant impact on its future price
With the ongoing selling pressure in the market, the DOGE price is falling back to the pattern’s support to replenish the bullish momentum. If buyers manage to defend this pattern, the resulting reversal may drive the price around 50
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