DOGE Analysis

DOGE, the meme coin, which can pump and dump based on a single tweet from Elon Musk.

Is there really a future in this coin ?
I don't know, but history has shown that it can be pretty volatile, and this is what traders are looking for.

What does price action tells us ?

The bulls are trying to push the price above the 20 day ema (in blue), for the third time this month.
If we see a break above the 2 moving averages, it will suggest the bulls are accumulating.
The 0.14$ price mark needs to be held, otherwise we could see sellers bring the price down to 0.12$ which was previous support.
The Stoch RSI is about to cross but I don't think it's a sufficient indicator right now since the oscillator is not oversold like it was on 10th january before price went up 50%.
Also the volume needs to be rising, right now it is relatively low.
My take is price is going to range for a bit, if it can hold above that ascending support line in green, chances are for a breakout once indicators turn bullish.


I will keep this idea updated.