DOGECOIN Doge price broke downtrend line, what will happen next?
Updated
Here is the chart of the DOGEUSDT trading pair for the last 2 years.
The downtrend of DOGEUSD price has been going on for 17 months and speculative interest in this manipulative coin has most likely disappeared for many.
But on the other hand, there are probably many investors who are stuck in this coin and the deposit is now in drawdown
Most likely, this idea is primarily for them.
Since June 2022, which is 5 months, the DOGE price has been consolidating in the liquidity zone of $0.04-0.08. It was in this liquidity zone at the beginning of 2021 that the DOGEUSDT price consolidated before the final pump of +1400% in 2021.
And today, DOGECOIN buyers are trying to break up through the falling trend.
However, it is too early to rejoice, there is a strong and liquid level of around $0.085 in the way of buyers.
Most likely, buyers will not be able to overcome this milestone the first time.
If you have a long position DOGEUSDT, then as the price approaches $0.085, you need to be very careful, because a correction to $0.065 may begin in the future
So, in our opinion, it is safe to long DOGE either from $0.065 or after the DOGEUSDT price can confidently consolidate and fix above $0.085
Medium-term target for DOGECOIN price growth is $0.125-0.135
_____________________
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The downtrend of DOGEUSD price has been going on for 17 months and speculative interest in this manipulative coin has most likely disappeared for many.
But on the other hand, there are probably many investors who are stuck in this coin and the deposit is now in drawdown
Most likely, this idea is primarily for them.
Since June 2022, which is 5 months, the DOGE price has been consolidating in the liquidity zone of $0.04-0.08. It was in this liquidity zone at the beginning of 2021 that the DOGEUSDT price consolidated before the final pump of +1400% in 2021.
And today, DOGECOIN buyers are trying to break up through the falling trend.
However, it is too early to rejoice, there is a strong and liquid level of around $0.085 in the way of buyers.
Most likely, buyers will not be able to overcome this milestone the first time.
If you have a long position DOGEUSDT, then as the price approaches $0.085, you need to be very careful, because a correction to $0.065 may begin in the future
So, in our opinion, it is safe to long DOGE either from $0.065 or after the DOGEUSDT price can confidently consolidate and fix above $0.085
Medium-term target for DOGECOIN price growth is $0.125-0.135
_____________________
Did you like our analysis? Leave a comment, like, and follow to get more
Trade closed: target reached
Possible correction DOGEUSDT price to $0.085-0.09
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