Market in the last 24hrs
The price saw a downward momentum for the upper to the middle Bollinger band. Trading volume has been very high in the last 24 hours.
Today’s Trend analysis
The price is on the middle Bollinger band, the likely scenario is that the price accepts the middle band as a support line then the price is expected to move in a bullish momentum...
Is Doge going to break out the down trend line? Lets keep it on watch!
As shown on the chart the short term down trend line prevented doge from progress 4 time which makes it a strong dynamic resistance. Also a strong static support around 0.16 is clear on the chart. This static support has moved doge up 3 times.
In case of down trend line break out first target...
Dogecoin finally got out of the bullish triangle it's been forming since May and is ready to reproduce its usual pattern to 3.272 of Fibonacci. We can expect a rise whenever Bitcoins decides to pull-back in the next few weeks. See my previous post about Dogecoin for more explanation.
Another chart to watch is $DOGE.
Break and retest of RSI downtrend line.
MACD is above 0 and price has bounced off the 50EMA twice now.
Volume looks solid and a break of that 0.2750 area should send it back up to 0.35.
After soaring to its highest level in more than a month on Monday, DOGE has reversed most of the week’s gains. The altcoin has dropped by over 10% to find support at October’s crucial level of 0.2400. On a two-hour chart, it is trading along with the 25-day EMA and slightly above the 50-day EMA.
In the near term, I expect the altcoin to continue finding support...
We have a weekly breakout and according to past behavior it means the coming few weeks are going to be pivotal… a move should be made soon. December is the earliest I see Doge topping out, but we should be on a lookout for a double top, which could possibly land the first during November. For a later top(s), January/February, 2022.
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Doge is breaking out of a symmetrical triangle, and the R.S.I is reflecting this move with a downtrend (now seen as breaking upward). staying above the orange line seen on the R.S.I Chart is ideal (but not necessary, as R.S.I Divergence would signal an even more Bullish trend).
Doge is also trading nicely within classic Fibonacci retracement levels, and is...