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Dogecoin(DOGE): Has reached Major Resistance / Rejection?

업데이트됨

DOGE is at a pivotal moment, as it confronts a significant resistance zone. After a substantial rally, the RSI is telling us that the market is overheating and entering overbought territory. This could indicate that a correction is near the corner.

We're watching for a decisive move; a sustained break above the resistance could signal continued bullish momentum, while a rejection might lead to a retracement towards the lower support levels at $0.08230 and potentially to $0.07535, which are our current targets as we stay below this resistance zone. As always, we'll look for confirmation in the price action and other indicators before making any moves.

노트

Doge has had a really nice dump since our TA, with an amazing movement of 9% (market price). Getting rejected compliantly from the upper resistance is a good sign for further movement here, for sure!

노트

Price had a bounce off the middle line of Bollinger Bands. Looking at the candles here, we see that the push is weakening, and we will most likely see the first target to be touched soon!

노트

Currently, the price has reached our resistance again, re-testing in that same area. Holding it is perfect as of now, but upon breaking it, we will see some very big push here for sure!

노트

Another day and another rejection! DOGE coin has another rejection (the third one) from our major resistance, which is still showing good strength!

노트

We are back with Doge coin, which has a very nice rejection from the upper resistance zone as of now, leading the price towards a lower support of $0.09113.

With that being said, we see that the price has had a volumetric bullish movement, which can lead the price back to the upper resistance zone. We are looking closely for market price movement, and once we see the price back near the upper resistance, we will be shorting it again with a much bigger size!

노트

Making a descending triangle pattern. This pattern shows that the price is in a consolidation phase, with a trendline resistance that is going down and aligning with the middle line of the Bollinger Bands.

Currently, the price is near the apex of the triangle, suggesting an imminent breakdown. If the price breaks below the triangle, we might see a significant move to the downside, with potential targets around $0.08230 and possibly extending to the $0.07535 support zone.

노트

DOGE is still continuing to show us some weakness near current zone where price went for second attempt to breakdown (and as of not working nicely out)

If this re-test works smoothly, then we will see prices in lower zones more likely!

액티브 트레이드

With Doge still actual, we see how nicely we had that rejection from the upper resistance, where price is still showing us some further weakness. The first target was achieved; now let's see how long it will take us to reach others as well!

노트

Since then, DOGE has had an amazing movement of 15%, and we are still seeing further movement!

DOGE seems wasted and tired from that heavily bullish movement it had, so those targets have a high chance of being reached!

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