Hello traders, here's a quick update on the DOGE coin.
Dogecoin did exceptionally well in the last 3 days. A 165% rally from the rock bottom of $0.06 all the way to $0.16 is simply great. It is too early to call it a 'rising wedge' pattern but a massive rally like this in no time is no joke. Although the rising wedge pattern technically tends to be bearish, we cannot assure anything on dogecoin because of Mr. Elon Musk. He literally owns dogecoin and can do anything with the power he holds.
From the technical term, if Doge breaks and closes below the support line, we may see some bearish move but if it bounces back and breaks above the resistance trendline then we may witness some more bullish rally.
I hope this update is helpful to you. Trade safely.
Dogecoin did exceptionally well in the last 3 days. A 165% rally from the rock bottom of $0.06 all the way to $0.16 is simply great. It is too early to call it a 'rising wedge' pattern but a massive rally like this in no time is no joke. Although the rising wedge pattern technically tends to be bearish, we cannot assure anything on dogecoin because of Mr. Elon Musk. He literally owns dogecoin and can do anything with the power he holds.
From the technical term, if Doge breaks and closes below the support line, we may see some bearish move but if it bounces back and breaks above the resistance trendline then we may witness some more bullish rally.
I hope this update is helpful to you. Trade safely.
