Dogecoin Short-Term (Correction Likely Not Over)

2 Okt

My dear friend, we see strong bearish momentum and prices moving down and we wonder, is this it? Is the correction over? Not likely! let me show you.

MA200 is working as resistance and produced a rejection in July 2024. Another rejection happened recently but DOGEUSDT did not make it to this level, the black line on the chart, which is a signal of weakness.

Since there is weakness, the drop can continue for a while longer.

The July drop led to a low of 0.080 on the 5th of August.
Since we have a lower high on the bounce (the recent peak in late September is lower than the peak in July), we can expect a lower low on the drop. The lower low can send prices to the range mapped on the chart.

This is likely the final drop and then a long drawn out recovery. We expect another correction in November but it will likely be a higher low. This will depend on how low this one goes, but this is it, most likely.

This is just a map of course as things can always change.

Stay strong, do what you have to do to stay safe.

Thanks a lot for your continued support.

Namaste.