if the price can break the ceiling of its descending channel in time frame 4h, the price can coplete its 3 wave. otherwise the price is expected to reach the bottom of the ascending channel and in case of failure of the waiting channel floor, the price is exected to reach channel and around 2.5$ price
- This is a double setup analysis on DODOUSDT.
- The bounce off the horizontal support level (S1).
- Price is testing the horizontal support level (S1).
- The downtrend is resisted by the descending trendline resistance (DTR-2).
- There's an uptrend potential.
Buy entry ⬆️ : breakout above the descending trendline resistance (DTR-2).
See a potential run for this coin over coming weeks/months if resistance broken and support is held. Indicators not much use in so early stages of the coin on this time frame. If res is broken definitely has potential for 100-400% gains. Take partials along the way. Always trade with an appropriate risk management strategy. Happy trading! NGS
Falling support and resistance levels.
Falling EMA and falling trade volumes.
Things aren't looking good for the DODO project.
But really good buying at 1 day support.
I think DODO is the next Sushiswap.