DOGE Finally Breaks Out From Long-Term Pattern

2020-11-18 20:58

The Dogecoin (DOGE) price has broken out from a bullish pattern that had been in place since July. It will likely continue rallying towards the resistance areas outlined below.

Breakout From Long-Term Pattern

The DOGE price has been moving downwards since a rapid rise took it to $0.0056 on Jul 8. Since Jul 16, the price has been trading inside a descending wedge.

After reaching the $0.0026 support area and validating it twice, the price began to rally and broke out from the wedge on Nov 5, beginning an upward move that is still ongoing.

The closest resistance area is at $0.0037, a horizontal resistance level and the top of the descending wedge.

DOGE Chart By TradingView

Technical indicators on the daily time-frame are bullish and support the idea:

The MACD is increasing and is above 0. The RSI is increasing and is above 50. The Stochastic Oscillator is increasing and has made a bullish cross.

Therefore, the price should eventually reach the previous resistance area at $0.037.

DOGE Chart By TradingView Short-Term Movement

Cryptocurrency trader @ColdBloodShill tweeted a 6-hour DOGE chart, which shows that the price has broken out from a minor resistance area.

Source: Twitter

The previous resistance area is at $0.00285 and is now likely to act as support. Furthermore, the area coincides with an ascending support line, strengthening its importance.

As long as the price is trading above this area/line, DOGE should gradually continue to rise towards the resistance area outlined in the previous section.

The closest minor resistance area, which is expected to provide some resistance, is at $0.0033.

DOGE Chart By TradingView Conclusion

The DOGE price should eventually reach the $0.0037 resistance area. The short-term move is bullish as long as the price is trading above the minor $0.00285 support area and the ascending support line.

For BeInCrypto’s previous Bitcoin analysis, click here!

Disclaimer: Cryptocurrency trading carries a high level of risk and may not be suitable for all investors. The views expressed in this article do not reflect those of BeInCrypto

The post DOGE Finally Breaks Out From Long-Term Pattern appeared first on BeInCrypto.

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pattern doge price out long-term outlined below

Источник: beincrypto.com

pattern doge → Результатов: 11


Dogecoin Price Analysis DOGE / USD: Playing Dead

Dogecoin has a bearish short-term bias, with the cryptocurrency trading below its 200-period moving average on the four-hour time frame The four-hour time frame is showing that a bearish head and shoulders pattern is forming The daily time frame is showing that the DOGE / USD pair remains trapped within a descending price channel Dogecoin […] The post Dogecoin Price Analysis DOGE / USD: Playing Dead appeared first on Crypto Briefing.

2019-8-1 16:33


Dogecoin Price Prediction 2019: Doge network is actively used but price leakage continues (Early May Update)

Early May Update: Technicals DOGEBTC has broken a long-term bullish trendline on the weekly chart and the price currently rests at the 45 sats zone, a newly formed horizontal support line. There is a clear symmetric triangle formation on the weekly chart, which usually forms during a trend as a continuation pattern.

2019-5-5 15:22


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DOGE Breaks Out and Aims for Prices Above $0.01

This is a short/medium-term analysis. For a longer-term analysis, click here. Breakout and Retest DOGE has been decreasing alongside a descending resistance line since Jan. 2, when it reached a high of $0.

DOGE Finally Breaks Out From Long-Term Resistance

As long as it’s trading above, DOGE should continue moving upwards towards the resistance levels outlined below. Long-Term Levels The weekly chart shows that DOGE has broken out and reached a close above the $0.

DOGE Breaks Out and Targets $0.0055

DOGE should continue increasing and break out from the resistance area outlined in the article. Similarly, DOGE/BTC has reached a crucial long-term support area from which a bounce is likely. Breakout and Retest The weekly chart shows that DOGE has been moving upwards since March.

DOGE Maintains Bullish Structure After Sharp Drop

Despite the sharp drop, it has maintained its bullish structure and is likely to soon begin an upward move. Doge Breakout From Wedge On Nov. 5, the DOGE price broke out from a descending wedge and proceeded to rally over the next three weeks, reaching a high of $0.

DOGE Continues Its Prolonged Consolidation

The Dogecoin (DOGE) price has been consolidating after a rapid pump and dump on July 10. Currently, there are no signs that suggest the price is likely to begin an upward or downward move. However, the DOGE/USD chart looks considerably more bullish than the DOGE/BTC one.