Dogecoin surged to an all time high of 0.70 on May 8th prior to Elon Musk's SNL podcast skit. The crypto currency was expected to reach target highs of a $1.00 due to the hype the billionaire created around it. Instead, doge has tanked significantly as if to correct itself by a 61% retracement to the 0.40 mark. This reveals opportunities to buy in on the crypto.
There's been a huge volume that has entered the market since February 2021, which increased the value of the doge rapidly, and price is currently in a strong bullish momentum.
Our 4H technical chart analysis unfolds a bullish doge trading in an ascending channel. Price just dipped to a support level, presenting bullish opportunities if the price of the doge holds above the 0.40 support area. Plus, there're several fundamentals in favor if the crypto.
N.B. I just bought some doge at 0.45
Trading ideas are subjective. Individual analysis advised.
There's been a huge volume that has entered the market since February 2021, which increased the value of the doge rapidly, and price is currently in a strong bullish momentum.
Our 4H technical chart analysis unfolds a bullish doge trading in an ascending channel. Price just dipped to a support level, presenting bullish opportunities if the price of the doge holds above the 0.40 support area. Plus, there're several fundamentals in favor if the crypto.
N.B. I just bought some doge at 0.45
Trading ideas are subjective. Individual analysis advised.