Long

DOGE : Moving down to test support?

The chart looks pretty similar to what happened on april, MACD stopped at the same high and even the RSI follows the trend. The fibo extension marks 0.7 as a fair resistance that could be the new rock in the way.

If we follow what the price did before, would be expected a little rise below 0.7, maybe inside the channel marked by the purple lines or a retest. But I think this is going to test the support after all at 0.44-0.4 in a consolidating phase; probably the best signal to look for the 0.44 would be crossing down the 50 EMA that has been acted as support to the trend line on both bullish periods.

There is a chance that the orange channel holds and the price just pivot from the lower limit before support, but I think it is less likely.

What are your thoughts? Just an amateur, this is not a financial advise.

Alfonsoe21

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