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DOGEUSDT This is confirming the new Bull CycleWe last looked into Dogecoin (DOGEUSDT) back in late October, analyzing the potential for break-out above the Channel Down that it has been trading in since May 2021 by using the Fibonacci extension levels. As you see, the aggressive Musk-led pump hit the 1.5 Fib extension of the Channel Down, while breaking above the Bear Cycle Resistance of the 1W MA50 (green trend-line) and as the news effect faded, it pulled-back following the FTX collapse back to the 1D MA200 (orange trend-line), which has so far held as a Support twice. This, along with the subsequent rejection on the 1W MA50, have largely confirmed DOGE entering into its new Bull Cycle by creating a new (green) Fibonacci Channel Up. As long as the 1W MA300 (red trend-line) holds, this can channel the price to the upper Fibs of both the former Channel Down and the current Channel Up. As long as the 1D MA200 holds, our target is the zone within the 1.618 (blue) and 1.5 (yellow) Fibs. If the price tests the bottom of the Channel Up again, we then expect a longer-term recovery back to the 1.5 (yellow) Fib, which by the time can also make contact with the 2.0 Channel Down Fib, the last Resistance before the Bull Cycle's mega rally. ------------------------------------------------------------------------------- ** Please LIKE 👍, SUBSCRIBE ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support me, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- You may also TELL ME 🙋‍♀️🙋‍♂️ in the comments section which symbol you want me to analyze next and on which time-frame. The one with the most posts will be published tomorrow! 👏🎁 ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
BINANCE:DOGEUSDLong
by TradingShot
1
The possibility of more price penetration at the support level!DOGECOIN had a range trend over the past week. Price hits the intended resistance support levels, each with a reaction. Considering the strength of the previous bullish candles during the past weeks, if there are good signs of support in the current area, i.e., the range of $0.0900-0.0960, we can expect the price to grow and break the resistance of $0.100-0.110. At the time of writing this analysis, these signs have not yet been seen on the price chart and the RSI indicator in the 4-hour timeframe. Therefore, there is a possibility of more price penetration at this support level. If selling pressure breaks this support, Dogecoin's decline could continue to the $0.080 range. The second support is a stronger range; we expect a better reaction from this area to retest the resistance levels.
by MonoCoinSignal
2
Dogecoin’s December trajectory Dogecoin has now made its way through a trend reversal, after its sharp rise and pullback in the back half of October and first half of November. In October, DOGE began a massive rally, gaining over +150% in just five days. About half of these gains have been given up now as some traders booked their profits. In the middle of November, Dogecoin experienced a period of consolidation between 0.0742 and 0.0900 creating a double bottom at the same time, giving the first possible signal that the coin was ready for a trend switch. The trend reversal was confirmed by the Fisher Transform Indicator on the daily timeframe. A crossover between the indicators signal lines can be witnessed after it created support at 0.07450. Since then, we have seen the price move to the upside, breaking above 0.0900, a previously strong resistance. Looking at the current price action at the start of the week, DOGE may be in a new area of consolidation and trying to break the resistance at 0.1070. Looking back at the Fisher Transform, we can see that it is again indicating a crossover signal, which may hint that DOGE is posed for an upside breakout. If the price successfully breaks the resistance at 0.1070 and manages to close above the daily chart, the next price target to watch includes 0.1420 if the momentum is strong enough. Besides the technical side of Dogecoin, it might pay to keep an eye on news emanating from Elon Musk by way of Twitter. Speculation has been rife that Musk will announce that the social media platform that he recently acquired will adopt Dogecoin as some form of payment method. Last week, Musk shared slides from a presentation he gave to the Twitter leadership team detailing his version for ‘Twitter 2.0’. Included in the presentation were slides related to ‘payments’, opening speculation that Musk may be wanting to form some kind of integration with his favourite cryptocurrency.
BINANCE:DOGEUSD
by BlackBull_Markets