Doge
Tesla's shares are up 7% today in premarket trading. After Elon Musk made an encouraging forecast for next year. The decline in car prices revived the company's sales. The company's shares have been falling throughout the past year and this month touched the lows they were at back in August 2020. The company also stated that it is not going to sell its Bitcoins, which indicates that Musk still believes in the crypto industry. The Doge coin is one of Elon's favorites. He devoted a lot of time to marketing this token and still continues to believe in it. Also last year, Elon Musk began selling some of the company's products in Dogecoin. I think that if the growth trend of shares continues as it was at the beginning of the year, then Doge will also increase in price. On the chart, we see a pattern with a horizontal resistance level, which the cryptocurrency has not been able to overcome since mid-December. And also a support trend line that pushes the asset to the top. I think this time the assault on the resistance level will be successful, and Dogecoin will be able to take higher price positions. The figure of a bowl with a handle is also visible on the chart, after which, as a rule, the chart grows. And the general positive trend of the cryptocurrency market is likely to lead Dogecoin as well.
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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.