DODO Secondary trend. 02 09 2024

Updated
Logarithm. Time frame 3 days (less is not needed). The price is in a horizontal channel, at the support zone, near the capitulation zone and liquid zones, which can give a massive triggering of long stop loss under the channel.

A descending wedge (secondary trend) was formed by the decline from 03/13/2024. Its breakthrough is a trend break.

The chart shows two average, not maximum targets for breaking the descending wedge (secondary trend) for orientation:

🟢 1) maintaining channel support and not entering the capitulation zone.
đź”´ 2) entering the capitulation zone.
______________________

The previous idea (wedge and work in the accumulation channel) for this coin and a similar trading situation that was published more than a year ago before the reversal (about +200%)
DODO/USDT Secondary trend. Accumulation channel 08 2023
DODO/USDT Secondary trend. Accumulation channel 08 2023


_____________________

The prices are currently acceptable from the standpoint of both the secondary trend and the main one.

⚠️ Due to the rather low liquidity, capitulation zones are extensive on such cryptocurrencies due to price slippage. Remember this and work wisely with the margin, and it is better to work with such cryptocurrencies only on the spot.

🟢 In the long term, this DEX will be heavily pumped up. Now they are pouring in a lot of money. The network has grown by 200% in users in a few months. This is all happening unnoticed against the background of the negative local fall of bitcoin.

Linear price chart.

snapshot

Main trend. Time frame 1 week.

DODO Main trend 09 2024
DODO Main Trend 09 2024
Trade active
20 09 2024 snapshot now locally at the moment "stick" about +30% to the resistance of the wedge and the median of the horizontal accumulation channel. Potential trend reversal zone, in case of a breakthrough of the resistance of the wedge. Option A, without deep entry into the capitulation zone. Prices in 1 and 2 options are acceptable from the position of realizing the price targets of the main and secondary trends.
Comment
21 09 2024 snapshot more than +50% locally, price below the resistance level of the local horizontal channel 0.01644 (0.1833)
cryptocurrencysignalscryptocurrrencydodododousdDODOUSDTParallel ChannelPivot PointsWedge

âś… Telegram. Finance + Trading: t.me/SpartaBTC_1318
✅ Telegram. Сrypto trading only: t.me/SpartaBTC_tradingview
âś… Instagram: instagram.com/spartabtc_1318
âś… YouTube (Rus): goo.su/vpRzRa2
Also on:

Related publications

Disclaimer