Hodl, dear members of LeoFinance!
Today, I would like to comment on the price chart of Dogecoin.
In the daily chart (1D), DOGE/USD continues to consolidate at the 30-day Moving Average and 90-day Moving average, struggling to find direction:
Nevertheless, in the 4-hour chart (4H), the situation is a bit different: DOGE/USD has exited the Descending channel (downtrend):
So, this is an initial signal that the bearish pressure is diminishing.
Moreover, in the 1-hour chart (1H), DOGE/USD is trying to draw an Ascending channel (uptrend):
The longer the price stays in this newly-created channel the higher the probability that the bullish signal will occur in the longer time frames as well.
To be continued ...
As of the time of writing, one DOGE costs $0,2989 on the Binance crypto exchange, according to TradingView.
A few words about me:
Just to let you know: I've been working professionally as a currency analyst for the last 15 years, and as a cryptocurrency analyst for the last 4 years.
Important!
Keep in mind, that thoughts expressed here are my own, and they should not be regarded as recommendations for any cryptocurrency/commodity trades, investments and etc.
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