Hi 🤚
As can be seen in the Dogecoin chart, the price movement trend is downward in the 4-hour time frame. It means that lower floors are formed. Therefore, the next target of Dogecoin is expected to be lower levels.
But if you look at the smaller time frame (one hour), you will notice that the price is in a short-term ascending channel, which is reacting to the floor and ceiling of the channel.
Currently, there are two scenarios with the highest probability.
The first scenario is to maintain and continue the short-term trend in the ascending channel up to the resistance range of $0.082 to $0.085, and then expect a fall to the support range of $0.06.
The second scenario is the breaking of the floor of the short-term ascending channel and the price falling to the support level of $0.06.
Important note: this currency is strongly affected by the publication of instant news; So we see long shadows in the Dogecoin chart.
Arztoday 🐱🏍
Analyzer ✍: AR.Rashidi
As can be seen in the Dogecoin chart, the price movement trend is downward in the 4-hour time frame. It means that lower floors are formed. Therefore, the next target of Dogecoin is expected to be lower levels.
But if you look at the smaller time frame (one hour), you will notice that the price is in a short-term ascending channel, which is reacting to the floor and ceiling of the channel.
Currently, there are two scenarios with the highest probability.
The first scenario is to maintain and continue the short-term trend in the ascending channel up to the resistance range of $0.082 to $0.085, and then expect a fall to the support range of $0.06.
The second scenario is the breaking of the floor of the short-term ascending channel and the price falling to the support level of $0.06.
Important note: this currency is strongly affected by the publication of instant news; So we see long shadows in the Dogecoin chart.
Arztoday 🐱🏍
Analyzer ✍: AR.Rashidi