In this report, dated December 3, 2021, we have prepared the technical analysis of Dogecoin (DOGE), which was performed by the famous analysts of Cryptocurrency community, and we will share it you.
Recently , Bitcoin is being traded in the range of 56 to 57.6 thousand dollars, DogeCoin is being traded today in the range of 0.20 to 0.21 dollars, a decrease of 1.5% compared to yesterday.
Be with Cryptoleda
DOGE trades near support level and soon will show us up movement
At this moment price trades near support level and support level 0.1950
And as you can see, price made fake breakout of this support level
We also have another one support level at 0.16 but I think price will not fall here
I think soon BTC will continue to grow and we will see alt pump too.
When BTC will exit from correction DOGE I think can go to local resistance level at 34-35 cents and create here some trend continuation patterns.
After breakout of this pattern I think price will go higher.
After this we can see 2 resistance levels 0.45 and 0.59.
And after this already ATH and higher.
Triple Bottom Pattern of Doge Chart ?
Will DOGECOIN reach to 1$ ?
Examining the DOGECOIN chart in the weekly time frame : we see that the price has been fluctuating in the range of 16 to 35 cents since May 24, 2021, and does not follow a specific trend (trading range). We expect the price to start to rise again this week and Grow and reach its first target at least up to 34 cents! The first condition to reach this target is the failure of the dynamic resistance indicated on the chart.
An interesting scenario could be the formation of the Triple Bottom Pattern pattern, which is completed when the price reaches the level of 34 cents, and with the failure of the neck line, the price can grow up to the specified targets.
Targets are $0.34, $0.45, $0.51, $0.57 and $0.74, respectively, and $1 at the end.
Dogecoin ready for fly?! Yes
Dogecoin has been sideway for long time. After a few month I think its time for this coin to grow considerably if it can break the two resistance ahead. So, you can go long according to the analysis in the chart.
Be careful about the oscillation of the BTC , in which it may decrease after short growing till 60K-64K, otherwise there is no need to worry.
DOGE status and Conclusion
You did read about 3 analysts point of view, some of them was bullish on it! But remember this, technical analysis is not enough you have to check the news too, you have to check the leader coin (Bitcoin), Then you can clearly see what will happen next. Remember Doge coin is a meme coin! so don’t invest too much on it.
Thank you for your time! if you have any idea about DOGE you can comment down below.
Disclaimer: None of these Analysis is not Buy or Sell DOGE recommendation, And this article is just for educational purposes so please just use this article for validating your own technical analysis.