DOGE Consolidation continues, when to expect a shot up price ?
We last published an idea for DOGEUSDT 2 months ago
Since then, the price of DOGE has fallen by -30% and has consolidated above the strong level of $0.20. And although further on the chart of DOGEUSD buyers organized a 30-40% bounce of the price up, but if this rebound is compared with the BTCUSDT price rally, which was in recent months, the growth is not too strong for an altcoin.
This combination of inputs, allows us to assume that at the moment, Dogecoin continues to consolidate and compose a medium-term long position. The upper bound of the consolidation is near the $0.30 level and the price may still reach this level in the coming days.
To ensure a strong shot at the DOGEUSDT price yet this year, buyers should not allow the price to fall below $0.22. This is the lower boundary of the current consolidation.
Fixing the price below $0.22 will move it into the framework of formation of another reversal pattern: "Double Bottom" or in the form of a cup.
In this case, the lower buying zone and the critical level will be around $0.1650-0.17
Global targets for growth of x2 and higher.
In principle we tried to represent all variants on the chart in an understandable way.
If something is unclear, or you do not agree with our vision of the market, we are ready for a productive discussion below in the comments.
_______________________________
Since 2016, we have been analyzing and trading the cryptocurrency market.
We transform our knowledge, trading moods and experience into ideas. Each "like under the idea" boosts the level of our happiness by 0.05%. If we help you to be calmer and richer — help us to be happier :)
Since then, the price of DOGE has fallen by -30% and has consolidated above the strong level of $0.20. And although further on the chart of DOGEUSD buyers organized a 30-40% bounce of the price up, but if this rebound is compared with the BTCUSDT price rally, which was in recent months, the growth is not too strong for an altcoin.
This combination of inputs, allows us to assume that at the moment, Dogecoin continues to consolidate and compose a medium-term long position. The upper bound of the consolidation is near the $0.30 level and the price may still reach this level in the coming days.
To ensure a strong shot at the DOGEUSDT price yet this year, buyers should not allow the price to fall below $0.22. This is the lower boundary of the current consolidation.
Fixing the price below $0.22 will move it into the framework of formation of another reversal pattern: "Double Bottom" or in the form of a cup.
In this case, the lower buying zone and the critical level will be around $0.1650-0.17
Global targets for growth of x2 and higher.
In principle we tried to represent all variants on the chart in an understandable way.
If something is unclear, or you do not agree with our vision of the market, we are ready for a productive discussion below in the comments.
_______________________________
Since 2016, we have been analyzing and trading the cryptocurrency market.
We transform our knowledge, trading moods and experience into ideas. Each "like under the idea" boosts the level of our happiness by 0.05%. If we help you to be calmer and richer — help us to be happier :)
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🔥V-I-P cutt.ly/PwkLhT56
👍Daily bitcoin reviews here💲 cutt.ly/3wnaaG4s
🔵Telegram t.me/pstrade_eng
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