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DOGEUSD trade ideas

The DOGE price could drop 60% by the end of this year!Hello traders, today I would like to explain to you something that may cool your views on this year's increases ;) Dogecoin grows 150% in 6 days, but be careful because it is now the most "bought" since April 2021 The DOGE price could drop 60% by the end of this year as it reached its highest overbought level since April 2021. According to the classic technical indicator, Dogecoin's ongoing price rises are starting to look overburdened. The Relative Strength Index (RSI), a momentum indicator that measures the degree of recent price movements to analyze overbought or oversold levels, rose to 93.69 on Dogecoin's daily chart. This is the highest level since April 2021, a month before the DOGE price hit a record high of $ 0.75. Therefore, the "overbought" state does not necessarily mean an immediate bearish reversal. However, they reflect the current euphoric buying dynamics in the market, which sooner or later pushes the price to a sideways trend or a downward correction. Dogecoin's 2018-2020 bear market on a weekly chart sheds light on similar price action. It's worth noting that the DOGE crashed almost 95% almost two years after it peaked at $ 0.0194 in January 2018. During the token correction period, the trend was visible in the downstream channel. It broke out of the upward range in July 2020 but followed the bullish move with a sideways consolidation trend - between Fib 0.0022 and 0.236 Fib $ 0.0054 - through December 2020. By comparison, the ongoing bear market on the Dogecoin token is shorter but follows a similar trend trajectory to the 2018-2020 period, as shown above. Therefore, DOGE may fluctuate in its current 0-0.236 Fib line range (or in the range of $ 0.055-0.176) after breaking the downward channel. In other words, DOGE could correct the rate to $ 0.055 by the end of this year, which is about 60% down from current price levels, if the fractal works as intended. Conversely, an immediate break above the 0.236 Fib line could lift DOGE to $ 0.25 as another uptrend. Good luck
BINANCE:DOGEUSD
by seba26-77
14
Start Bullish Market ?? Wave ThreeHello there! I am a big fan of the Elliott Wave Principle, which is very interesting and useful for analyzing the market. I have developed my analytical approach by combining the principle with my personal experience and considering various scenarios that may occur in the market. Although I want to share my analysis with you, I want to emphasize that I do not provide buy or sell signals. My main intention is to share my unbiased analysis so that you can use it as a guide to make informed decisions. To build your confidence in my analysis, I always share my previous analysis of the same market so that you can compare and see the progress. All the details of my analysis are clearly labeled, which should make it easy for you to understand. I hope that my analysis will be helpful in your trading journey and wish you all the best. Sincerely,
BITFINEX:DOGEUSDLong
by mehdi47abbasi79
Go DOGe GO!Hello DOGe Fam! ... Its snowing, and these are the best fits I have for the harmonic patterns and level behaviors of doge coin. Looking good on 4 of 5 forecasts... Hoping we see DOGe de-couple from BTC and the S&P in the next few days here. showing the end of a neutral sideways pattern on BTC, that gives way to big corrections in multiple forecasts. also one forecast for BTC that shows continued moderate growth. Who is new to the DOGe Fam? Welcome aboard! the last few runs have been splendid fun. excited to have you all on board for the next one! :)
COINBASE:DOGEUSDLong
by DHLawrence
3