Due to activity on the chart, we clearly can see a bunch of previous cup n' handles, as well as many previous resistance zones that were tested then broken. We also see some consolidation before these zones were broken at a few points.
Who is to say we won't see another instance where resistance is broken following time consolidation. Not to mention, the trend is respecting both the 50SMA and the 200SMA, therefore I do not expect the Doge to drop below 30 cents, and if so, I would expect a bullish run back to a new ATH.
The Dotted Red lines mark previous resistance that was inevitably broken and once we got into our trend, when these resistance levels were broken, we see for the majority, at least gains of 2x our initial profit and even more.
So in conclusion, by the end of the week/early next week, I would expect doge to be at least in and around 80 cents.
Who is to say we won't see another instance where resistance is broken following time consolidation. Not to mention, the trend is respecting both the 50SMA and the 200SMA, therefore I do not expect the Doge to drop below 30 cents, and if so, I would expect a bullish run back to a new ATH.
The Dotted Red lines mark previous resistance that was inevitably broken and once we got into our trend, when these resistance levels were broken, we see for the majority, at least gains of 2x our initial profit and even more.
So in conclusion, by the end of the week/early next week, I would expect doge to be at least in and around 80 cents.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.