Dogecoin (DOGE) went on a massive run few weeks back and went as high as to challenge January's 2018 all time.
Now, after a strong retrace, 50%, Dogecoin is showing early signals of finding a support. Let's take a look:
Weekly chart:
- On this chart we can see a hammer candlestick forming this week. The week closes tomorrow. If this candle closes as a hammer, you have the first strong signal of support being found (early signal).
- Price found suport at EMA50, 100 and fib level. Strong support.
- Bear (red) volume is minimum compared to green volume.
On the daily chart (main chart above):
- We can spot hidden bullish divergence on both the RSI and MACD.
- The RSI just oversold and bounce strong.
These are early signals, but Dogecoin support has been touched.
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