DOGE - 1h. It is better not to wait for the range $0.39-0.41
DOGE survived yesterday's fall in the crypto market quite well. If some coins fell by 40-50% and punched their liquid price zones down, DOGEUSDT buyers managed to keep the price both within the trend line and within an important liquidity range. In the hourly timeframe, we see that the fall on April 18 took place without volume:
This fact shows that investors did not believe in the panic fall in the price of the crypto market and held their positions. Although we know very well how volatile DOGE can be. Therefore, at the moment the main scenario for the DOGE market is to break through and consolidate the range of $0.39-0.41. It was this range that prevented buyers from continuing the rapid wave of growth on April 16. Large volumes of trades in this range indicate the formation of a local sales area:
The critical point for the growth scenario in the DOGE market is the trend line of buyers, which they have been holding since April 14. At the moment, the trend line of buyers is near the mark of $0.326:
Having lost this mark, sellers will start a powerful wave of decline with the first target of $0.255-0.265. However, the chance of sellers to break this mark and update the local low will be very high.
Therefore, at the moment the ideal solution is to wait for the DOGE price to break through and consolidate above the range of $0.39-0.41. Only after a firm fixation above this range can you think about buying this coin.
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We create both short-term ideas (for a local understanding of the market situation) and medium-term forecasts of price movements.
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This fact shows that investors did not believe in the panic fall in the price of the crypto market and held their positions. Although we know very well how volatile DOGE can be. Therefore, at the moment the main scenario for the DOGE market is to break through and consolidate the range of $0.39-0.41. It was this range that prevented buyers from continuing the rapid wave of growth on April 16. Large volumes of trades in this range indicate the formation of a local sales area:
The critical point for the growth scenario in the DOGE market is the trend line of buyers, which they have been holding since April 14. At the moment, the trend line of buyers is near the mark of $0.326:
Having lost this mark, sellers will start a powerful wave of decline with the first target of $0.255-0.265. However, the chance of sellers to break this mark and update the local low will be very high.
Therefore, at the moment the ideal solution is to wait for the DOGE price to break through and consolidate above the range of $0.39-0.41. Only after a firm fixation above this range can you think about buying this coin.
_________________________________
We create both short-term ideas (for a local understanding of the market situation) and medium-term forecasts of price movements.
Subscribe to us and get daily concise analytics!
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