DOGE Attempts to Find Support After Breakout

DOGE Attempts to Find Support After Breakout
фото показано с : beincrypto.com

2021-8-26 18:20

Dogecoin (DOGE) broke out above the $0.265 horizontal area on Aug. 11 and is currently in the process of validating it as support.

While it is likely that DOGE is in a corrective structure, another higher high would be likely before a potential long-term drop.

DOGE reclaims horizontal level

DOGE initiated an upward movement on June 22 and created a higher low on July 20. On Aug. 11, it managed to break out above the $0.265 horizontal resistance area and proceeded to reach a high of $0.352 on Aug. 16. 

It has been decreasing since, potentially returning to validate the $0.265 area as support. The area also coincides with the Supertrend support line (green line).

However, both the MACD and RSI are decreasing, and the latter is close to falling below 50.

Chart By TradingView

The shorter-term six-hour chart supports the possibility that DOGE will drop towards the $0.265 area. 

The token is potentially following an ascending support line (dashed), which coincides with the previously outlined area. In addition to this, there is another confluence of support levels created by the 0.5 Fib retracement support area and the support line of a descending parallel channel. 

Finally, both the MACD and RSI are bearish, indicating that there is more downside to come. 

Chart By TradingView Wave count

Cryptocurrency trader @TheTradingHubb outlined a DOGE chart, stating that the token is completing a long-term B wave before another sharp drop.

Source: Twitter

The downward movement following the May 8 all-time high price does indeed resemble a leading diagonal (black). Therefore, it is very likely that it is part of wave A of an A-B-C corrective structure (orange). In this case, the ensuing breakout from the wedge is part of wave B.

An interesting development is that fact that wave B has yet to reach even the 0.382 Fib retracement resistance level. This is unusual, since corrective B wave are expected to at least reach this level. 

Therefore, it is likely that another upward movement will follow after the bounce at the aforementioned support area. 

Chart By TradingView

For BeInCrypto’s latest Bitcoin (BTC) analysis, click here.

The post DOGE Attempts to Find Support After Breakout appeared first on BeInCrypto.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Lendroid Support Token (LST) на Currencies.ru

$ 0.00049 (+0.76%)
Объем 24H $0
Изменеия 24h: 5.17 %, 7d: -58.34 %
Cегодня L: $0.00049 - H: $0.00049
Капитализация $0 Rank 3554
Доступно / Всего 0 LST

support doge breakout find attempts process validating

Источник: beincrypto.com

support doge → Результатов: 126


Илон Маск поддержал инициативу разработчиков Dogecoin снизить комиссии

Илон Маск поддержал предложение разработчика Dogecoin (DOGE) Патрика Лоддера о снижении комиссии в сети мем-криптовалюты и повышении ее децентрализации. Important to support— Elon Musk (@elonmusk) June 28, 2021 «Это предложение ко всем заинтересованным сторонам Dogecoin предполагает снижение комиссии для стандартных транзакций в сети в 100 раз, разделение полного контроля над всеми аспектами комиссий между майнерами и операторами нод, меньшую опору на ключевых разработчиков, а также возвращение функционального (небольшого) транзакционного пространства, которое стимулирует поддержание работоспособности сети», — пояснил Лоддер в треде на Reddit.

2021-6-28 12:28


Фото:

DOGE Reaches Support, Could Soon Resume Its Upward Movement

The Dogecoin (DOGE) price has been retracing after a rapid breakout on July 6. It has reached a likely reversal level and could continue its upward trend in the near future. Retracement After the Breakout On July 6, the DOGE price initiated a rapid upward move that caused it to break out from a descending […] The post DOGE Reaches Support, Could Soon Resume Its Upward Movement appeared first on BeInCrypto.

2020-7-24 23:16


Dogecoin Price Analysis: DOGE Volume Spikes A Bull’s Glimmer Of Hope

Major support level: 27 satoshis Major resistance level: 31 satoshis if the first notable resistance, the major one is at 44 sats but that one is definitely out of reach for Doge in the short-term Upside potential: breaking the 31 sats resistance and making it its new support Downside potential: dropping back to the 27 […]The post Dogecoin Price Analysis: DOGE Volume Spikes A Bull’s Glimmer Of Hope appeared first on CaptainAltcoin.

2019-10-14 16:45


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Dogecoin Price Outlook: Is a Bullish Breakout for DOGE on the Cards?

Dogecoin (DOGE) still has breakout potential, but the current trend hints at a sharp correction. The key question is whether it can hold above support or drop further. The post Dogecoin Price Outlook: Is a Bullish Breakout for DOGE on the Cards? appeared first on BeInCrypto.