Brief content
⚈ Tradingshot analyst predicts the conservative goal of Dog by 0.90 US dollars using the expansion of Fibonacci.
Activity Activity and market volatility can limit the ability of Dogecoin to maintain a rally.
Dogecoin (DOGE) first closed above the key level of support over more than 3 months.
During the press on April 23, the DOG passed into his hands at 0.174 dollars, noting an increase of 12.12% on a 1-week graphics.
Namely, the coin of memes closed above the 50-day sliding medium (MA) in a 1-day diagram on April 22, which did not occur since January 18. Shortly before that, the dog hit and bounced from the 2-year-old higher zone.
The chart expert considers $ 0.9 US dollars of a conservative target price for dohens.
Each time such a rebound and close to MA occurred, the price of Dogecoin was part of a bullish leg as part of a wider cycle, as noted by a famous expert in the chart. Trading slingshots In April 23 TradingView mail.
Moreover, in all such cases, the relative force of the humorous asset (RSI) showed a bull divergence, which occurred again – giving additional confidence the dissertation of the technical analyst.
Finally, the chart expert set a target price of 0.9 US dollars, which is equivalent to the expansion of the expansion of Fibonacci Fibonacci. Readers should note, however, that this is considered a conservative target price – since previous rallies of pre -lane prices reached the levels of 1.786 and 3 FIB.
Given the foregoing, there are several factors that can serve as a surge. Since this is a meme, DOGE is much more vulnerable to dynamics in the market than your average cryptocurrency.
In addition, the whale has recently dropped more than 570 million DOG within one week, after receiving 80 million within one day – which can signal that the mood is not optimistic enough to perform a promising technical signal specified Trading slingshotsField
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