After this morning's dogecoin dip in price. I created new trend parameters to measure how strong the new trend is and where the price can potentially go. The purple dotted lines represent the most recent, short term trend that the price is taking (based on 1-day data). Should we panic after this dip?? No! The yellow lines represent the bigger and overall trend that the price has been following for this month until last weekend's breakout where it crossed the upper yellow line (the ceiling). The yellow line that we observe in this graph is the ceiling of the overall trend, thus what we are seeing is Dogecoin following a conventional price pattern (going up and going down). If the purple trend prevails and the price can cross the yellow line we could be seeing a price breakout very soon. But all of that is if the price keeps the current trend and it can break above the resistance levels.
Price can still drop all the way to the original long term support levels of the yellow lines trends, which are not showing in this picture, the price could drop up to .0489 cents per coin, so brace yourselves for either a drop in value if the coin is not able to cross the resistance levels (yellow and green lines)!!
(THIS IS NOT A FINANCIAL ADVISE NOR TRADE ADVISE, I AM NOT A FINANCIAL ADVISOR NOR HOLD ANY TITLES AND LICENSES THAT WOULD SAY OTHERWISE; THAT WOULD CERTIFY MY EXPERTISE. I AM JUST A GUY LOOKING AT PRICE CHARTS, I AM NOT GUARANTEEING THE PRICE WILL FOLLOW MY PREDICTION OR ANYTHING, DO NOT TRADE BASED ON MY POST. YOU NEED TO DO DUE DILIGENCE WHEN INVESTING. THIS IS NOT A BUY, SELL OR HOLD RECOMMENDATION.)
As always: "Past performances do not guarantee future returns"
Have fun and good luck!!!!
Price can still drop all the way to the original long term support levels of the yellow lines trends, which are not showing in this picture, the price could drop up to .0489 cents per coin, so brace yourselves for either a drop in value if the coin is not able to cross the resistance levels (yellow and green lines)!!
(THIS IS NOT A FINANCIAL ADVISE NOR TRADE ADVISE, I AM NOT A FINANCIAL ADVISOR NOR HOLD ANY TITLES AND LICENSES THAT WOULD SAY OTHERWISE; THAT WOULD CERTIFY MY EXPERTISE. I AM JUST A GUY LOOKING AT PRICE CHARTS, I AM NOT GUARANTEEING THE PRICE WILL FOLLOW MY PREDICTION OR ANYTHING, DO NOT TRADE BASED ON MY POST. YOU NEED TO DO DUE DILIGENCE WHEN INVESTING. THIS IS NOT A BUY, SELL OR HOLD RECOMMENDATION.)
As always: "Past performances do not guarantee future returns"
Have fun and good luck!!!!
