A friend of mine asked for the future of doge coin because part of his investment depends on it. So I will attempt to determine it's future from a technical standpoint alone for the sake of this post.
Presently price is trading above the previous low of $0.050 level(Black bar). But also on a bigger picture doge coin has been massively trending down for the most of this year which could also mean we might see some further downside until we hit a major support level before it reverses.
If price should further break $0.05 price level(Black bar) doge coin will definitely go down to the next support level at 0.030(Red bar) before looking for any buying confirmation.
And lastly $0.17(Blue bar) is the level I'm looking out to see a breakout to the upside before I can confirm doge coin direction to be bullish, as for now we are very much still bearish till further notice.
Presently price is trading above the previous low of $0.050 level(Black bar). But also on a bigger picture doge coin has been massively trending down for the most of this year which could also mean we might see some further downside until we hit a major support level before it reverses.
If price should further break $0.05 price level(Black bar) doge coin will definitely go down to the next support level at 0.030(Red bar) before looking for any buying confirmation.
And lastly $0.17(Blue bar) is the level I'm looking out to see a breakout to the upside before I can confirm doge coin direction to be bullish, as for now we are very much still bearish till further notice.