DOGE on the cusp of liquidity + price breakout
Dogecoin price has been on a slow uptrend for the past month with some volatile moves. However, DOGE seems primed for a quick run-up into the liquidity pool before establishing a firm directional bias.
Dogecoin price has bounced off the $0.226 support level twice over the past month and has risen roughly 22% to where it currently stands. While there was a massive spike in volatility on October 28, things seem to have returned to normal.
Dogecoin price is stuck between the $0.226 and $0.343 barriers and anticipates a move above these levels. The altcoin markets look better than Bitcoin, so investors can expect DOGE to trigger a quick run-up before it retests a support level.
Moreover, the market makers are also likely to prefer a run above $0.343 to collect liquidity resting in the form of buy stops. Therefore, market participants can expect a 25% ascent in the near future for Dogecoin price.
After this run-up, if DOGE produces a decisive daily close above $0.343, the chances of continuing this uptrend will increase massively. However, a failure to do so will result in a downswing that retests $.226.
On the other hand, if the Dogecoin price fails to climb higher, it will head lower to retest the $0.226 support level. While it is likely that DOGE might wick below this barrier, a daily close above it will indicate the bulls’ will to push the meme coin higher.
However, a daily close below $0.196 will invalidate the bullish thesis. In such a case, Dogecoin price will head lower and retest $0.16, where it will restart the upswing to collect liquidity above $0.343.
We also can see a breakout which retesting a key level at 0.2638, we need to keep watching it till a clear confirm.
- Our option for #DOGE is WAITING FOR A CLEAR CONFIRMATION TO TAKE AN ACTION or HOLDING IT IF YOU OWN.
Do your research before any trade or any investment, make your own decision, be patient and look long term wisely.
Please comment, like and follow if this post helped you.
Thank you for your time.
Have a profitable trading.
| Review and analysis by Samadi.Finance |
Dogecoin price has bounced off the $0.226 support level twice over the past month and has risen roughly 22% to where it currently stands. While there was a massive spike in volatility on October 28, things seem to have returned to normal.
Dogecoin price is stuck between the $0.226 and $0.343 barriers and anticipates a move above these levels. The altcoin markets look better than Bitcoin, so investors can expect DOGE to trigger a quick run-up before it retests a support level.
Moreover, the market makers are also likely to prefer a run above $0.343 to collect liquidity resting in the form of buy stops. Therefore, market participants can expect a 25% ascent in the near future for Dogecoin price.
After this run-up, if DOGE produces a decisive daily close above $0.343, the chances of continuing this uptrend will increase massively. However, a failure to do so will result in a downswing that retests $.226.
On the other hand, if the Dogecoin price fails to climb higher, it will head lower to retest the $0.226 support level. While it is likely that DOGE might wick below this barrier, a daily close above it will indicate the bulls’ will to push the meme coin higher.
However, a daily close below $0.196 will invalidate the bullish thesis. In such a case, Dogecoin price will head lower and retest $0.16, where it will restart the upswing to collect liquidity above $0.343.
We also can see a breakout which retesting a key level at 0.2638, we need to keep watching it till a clear confirm.
- Our option for #DOGE is WAITING FOR A CLEAR CONFIRMATION TO TAKE AN ACTION or HOLDING IT IF YOU OWN.
Do your research before any trade or any investment, make your own decision, be patient and look long term wisely.
Please comment, like and follow if this post helped you.
Thank you for your time.
Have a profitable trading.
| Review and analysis by Samadi.Finance |
Trade active
This is a panic price action before spike,
Remember before any spike and buying flow we always see a panic move down, we call it FEAR LEVEL.
Be fearful when others are greedy. Be greedy when others are fearful
Warren Buffett,
Thank you for your time.