DOGEUSDT in Accumulation Phase
Updated
DOGEUSDT recently dropped to a support level last tested in February, where the price saw a significant rally. Currently, the price has formed a false breakout below the 0.09500 support level and has since been moving sideways in an accumulation phase. Over the past week, the market has been forming a compression channel, which could lead to a breakout and a subsequent price move. Given the repeated rejections and bounces off the support level on the daily timeframe, there is a strong potential for an upward move. The price could break through the trendline and retest the resistance level, with the target set at 0.10700
Trade closed: target reached
Price moved as expected and reached the target
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