Dogecoin On The Rise!! .. But For How High??Here I have Dogecoin on the Daily Chart!
Starting with Technical Analysis:
Since its visit at the High in Dec. 2023 (.0945 - .1020) Support Zone, Dogecoin has had quite the Bullish Run!
Currently this rally is being halted @ .1363 as Price is testing not only the (.1280 - .1440) Resistance Zone but the Falling Resistance based off the Highs in March & May!
If price is able to overcome these obstacles ..
What lies in wait??
..Previous Highs
1) Price will have to contend with the (.1700 - .1800) Resistance Zone
2) Price will have to contend with the (.1990 - .2200) Resistance Zone
.. After that, well lets just focus on the here and now
*Based on the bearish pressure Dogecoin is facing considering on the Daily, Price is hitting Resistance Bollinger Bands, we could see a drop to the down side to test the (.1280 - .1300) area this rally was able to Break IF the Falling Resistance is able to Hold Price Below it's current High @ .1363.
*IF this drop is contained by the (.1280 - .1300) area and price is able to stay relatively above the 200 EMA, this could be good indication of Bulls in the area ready to push price higher!
Now Fundamentals
There's already been a lot of hype on the cryptocurrency for those who follow the fundamental side of trading with the ENOROMOUS transaction made with said currency:
www.tradingview.com
Along with the strong boost to cryptocurrency by the "Pro-crypto stance under Donald Trump's Leadership - should he win - will further fuel enthusiasm."
www.tradingview.com
*I currently hold 107 Dogecoins but could be looking to add very soon
-Stay Tuned!