Big pullback coming for DOGE? Or break towards the ATH!

٩ ديسمبر ٢٠٢٤

Getting a broad pullback in the market today, taking #DOGE close to a tag of the DEMA 20 but still within a rising channel. DOGE pumped 4 times in the 2021 bull phase. Twice it reached a daily RSI over 90. The first time it corrected 53% and consolidated for 2 months. The second time is corrected 65% and consolidated for 2 weeks before peaking for the cycle 1 week later. 3 weeks ago, the daily RSI peaked over 90. Will #DOGEUSDT experience a major correction this time, or is this time different? A break of the rising channel and drop below the $0.40 horizontal support may be a sign that a deeper correction is in store. A correction may be bought quickly in the bullish market. Continuing to rise within the channel may result in a break to new highs and the next pump towards the ATH.

Please let me know in the comments what other signs may give us a clue what DOGE's next move will be from this rising channel! I'd love to hear others' thoughts!

١٠ ديسمبر ٢٠٢٤

تم فتح الصفقة

The rising channel was violated. The 90+ reading on the RSI did in fact mark a local top that led to a pullback. DOGE, currently at $0.38, may now reach the lower boundary of a horizontal channel around $0.34. A reasonable buy zone for the next bullish leg is between $0.30 to $0.34.