DOGE had a breakout from it's symmetrical triangle; Now it's been rejected from it's resistance zone ! There are two possible ways for it to move...
1️⃣ Break resistance zone and take hold above it. 2️⃣ Rejects trendlines and retest MA 100 or lower. Now let's discuss about their possibility !
1️⃣ Break resistance zone and take hold above it. If BTC try to rebound from current point; we will see more aggressive pushes on DOGE to break resistance, And the only way that can make DOGE bullish now is BTC ! How ever there is a support point which is formed of two trendlines and a support line ( $0.365 ). So bulls have one more chance to push the pair above resistance zone.
2️⃣ Rejects trendlines and retest MA 100 or lower. MACD is being bearish and MA100 is so far from DOGE's movement ! Also BTC is now below resistance zone again; Factors are more bearish now for DOGE.. I expect a dive for DOGE if current support point rejects the pair ! We can buy more alts in this minor dip.
Hope you enjoyed our analysis about DOGE's possible directions🙌 You can support us with your likes. Also you can share your opinion with us in comments 😉🙋🏼♂️
Attention: this isn't financial advice we are just trying to help people on their own vision.