NB: I'm not a financial advisor.
In a nutshell, from the chart, you can see the blue ascending triangle. the final day for doge to trade in that triangle is May 08, 2021.
A breakout from that triangle will take the price to test $0.9 making it possible to reach $1 within the specified date range. A breakdown will take the price to test $0.5 then $0.4 to $0.37 price range.
- The highlighted rectangular box is the date range for doge to reach $1 if it stays within the boundaries of the channels shown on the chart.
- The dash-dotted lines show possible resistance and support on its way to $1
- The RSI indicator is bullish which suggests that we can expect a bullish MACD cross on the four-hour chart to happen.
FINALLY
If I were you I will put my Stop Loss at $0.49 because if it breaks below $0.5 the chances of it going down to $0.4 or even below before the next Elon Musk tweet is very high.
In a nutshell, from the chart, you can see the blue ascending triangle. the final day for doge to trade in that triangle is May 08, 2021.
A breakout from that triangle will take the price to test $0.9 making it possible to reach $1 within the specified date range. A breakdown will take the price to test $0.5 then $0.4 to $0.37 price range.
- The highlighted rectangular box is the date range for doge to reach $1 if it stays within the boundaries of the channels shown on the chart.
- The dash-dotted lines show possible resistance and support on its way to $1
- The RSI indicator is bullish which suggests that we can expect a bullish MACD cross on the four-hour chart to happen.
FINALLY
If I were you I will put my Stop Loss at $0.49 because if it breaks below $0.5 the chances of it going down to $0.4 or even below before the next Elon Musk tweet is very high.
Keep an eye on SNL it starts at 8:30 PM pacific. If the Dogefather fails to mention doge at the show the price will likely correct. a stop loss at $0.63 would be wise. If the Dogefather mentions doge on the show then $1 is almost certain.