DOGEUSDT Hello everyone 😃 Before we start to discuss, I would be glad if you share your opinion on this post's comment section and hit the like button if you enjoyed it !
As my last meme coin's analysis on #SHIBA went wrong, I don't want to do TAs on them anymore, But this one; have some good factors to know... #DOGE has broke above the symmetrical triangle with 380% measured high ! Which means that #DOGE can surge more 380% again... So the target will be around ~$1. 📍 But we need more confirmation for TA based on meme coins, Let have some more bullish factors then 👇🏼 - Broke above the symmetrical triangle and retests it. - Breaking above the breaker line on current daily candle. - Successfully retraced to 61.8% FIB's level. - Broke above the parallel channel in LTF. - Hold above daily order block support and retests it 2 times. - MACD's histogram has gained volume and signal line has broke above the bullish zone. - Volatility has surge above the sell limit zone after 26 days. - RSI is moving above 50. - Current daily candle is holding above the VPVR's POC. - EMA200 is supporting movement from below.
As you can see most of the major factors are bullish for #DOGE, But it's early to sit on the bulls side; #DOGE needs to break above the current resistance zone as a confirmation for bulls to enter the market after a retest on broken zone ! Also Based on FIB extension's levels and FIB retracement's levels, #DOGE has retraced to 61.8% FIB's level and now the targets will be $0.8403 and $1.0115.
📌 Also based on indicators and oscillators chart : As I mentioned higher on the bullish factors, Most of the oscillators are suggesting that #DOGE have the room to growth. - MACD : Bullish histogram and gaining volume on it recently, Also signal is now moving in bullish zone. - RSI : Moving at 66's rate and shows that bulls have the upper hand. - Bollinger Bands : Pair didn't reached the higher line yet, Also RSI have the space to retest the higher too ! - Volatility : Surges above the sell limit zone after 26days and we expect the same impact on buy limit zone. - VPVR : #DOGE is holding above the POC with current daily candle and the next daily candle close above the POC can confirm the bullish bias. - EMA200 : Moving below the movement and supporting #DOGE for 18 days up to now.
📚 Conclusion : #DOGE has broke above the symmetrical triangle and the target for the triangle's high is located above $1 ! Bulls need to conquer the higher resistance zone before any major upward movement. Swing traders and Positional traders can enter after the breakout above the mentioned zone. - Invalidation will be a close below the mentioned zone after taking position.
🔴 Any 2 candles close below the blue tagged support zone, Will cause a 35% retracement for #DOGE till the lower daily bullish order block !
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