The downward trend continues. The bright green trend line is established long before the hype train came. This may be a good buy signal for a shorter-term play if one were so inclined.
I'm not convinced it will hold, but I'm keeping my eye on it. The recent bounce convinced me it could possibly bounce again from it, but this in the hands of fate. This is a very wait and see scenario, but one of the best traders I've learned from always says to trade the trend, and if you don't see a trend, wait for one to appear. The trend here is clear, so I'm inclined to say it will keep falling. Lots of people bought at this level and thought it was going to Neptune. Now that it's not, but all the same they may get tired of having $X locked up in a trade that continues to go south and show their paper hands as a result.
I don't currently believe this will go lower than .027 before a significant move upward, but this line is just about the last in an upward trend that I see before other things dictate the depths it may sink to.
I'm not convinced it will hold, but I'm keeping my eye on it. The recent bounce convinced me it could possibly bounce again from it, but this in the hands of fate. This is a very wait and see scenario, but one of the best traders I've learned from always says to trade the trend, and if you don't see a trend, wait for one to appear. The trend here is clear, so I'm inclined to say it will keep falling. Lots of people bought at this level and thought it was going to Neptune. Now that it's not, but all the same they may get tired of having $X locked up in a trade that continues to go south and show their paper hands as a result.
I don't currently believe this will go lower than .027 before a significant move upward, but this line is just about the last in an upward trend that I see before other things dictate the depths it may sink to.
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Where the bright green trend line started:
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Another possibility. Only very slightly different. How much influence do the little details from very early on hold?
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Impossible to really know before it happens, but this could still just crash right through it and that would make sense because of the trend.
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The short-term play off the green line bounce looks as though it's playing out exactly as I suspected it would. We'll see if the trend line holds for much longer. If it keeps getting tested and not turning out gains I believe interest will fizzle and it'll start testing levels further below. Another way to look at it is that it's a good buy signal in an otherwise upward trend that becomes frenzied about once every week or so. $DOGE does have a market cap issue that, without a catalyst to push past it, creates a little bit of a glass ceiling.
