Back to Trade Signals
market-updatetrading-signal
Dogecoin (DOGE) - Edition #1
Dogecoin (DOGE) - Edition #1 - Read the full update on Zelf Trade.
Samuel Castellanosâ¢
Dogecoin (DOGE) - Edition #1
Will DOGE lovers finally be rewarded?
Things have not been as exciting as most cryptocurrency enthusiasts would have thought, especially for $DOGE. At just 3x from this year's low, it is to date one of the worst performing memes. Let's take a look at what Dogecoin might have in store.Â
Macro View.
The most positive view for this coin is hiding in the higher time frames. Everything remains intact on the monthly and it just regained lost support on the weekly. Many probably missed the yearly opening retest at $0.09 hoping to get a perfect retest of that level, only to be left out!
- Price trading above $0.12 over the next three weeks will present a change in trend and print a new bullish signal
- Once it reaches $0.17, things will start to pick up momentum, as that would be the last level for the bears to defend before a nice push towards $0.33.
The lower time frames remain too congested and directionally unbiased, as it has been stuck in a trading range since March. Things are looking considerably better after the monthly block recovery at $0.12-0.13, but this still appears to be a slow mover compared to other memes.Â
Actions to Take:
- Bid at $0.12 for a turn towards $0.17.
- Invalidation below a daily close of $0.114.
A rather slow trade, so be patient!
Disclaimer: This content was originally published on Zelf Trade.