DOGE - 6h. We love and hate at the same time

5 Mar 2021

Remembering the DOGE coin a month ago, 2 associations of Elon Musk and eternal growth immediately appeared in my head. However, for almost a month DOGE has shown a different behavior. This manner of DOGE price movement was very popular before the sharp pomp of the coin. It is a ruthless, protracted, crazy and intolerable correction. Almost a month has passed since our previous global idea and sellers have managed to test a critical point, after which a new wave of growth is likely:

After rapid growth and unsuccessful renewal of the high, the price of DOGE went into a protracted correction. At the moment, this correction is in the form of consolidation, which can not shoot.

Trading volumes in the DOGEUSDT market have fallen significantly and expectations of a new wave of growth are becoming unbearable and quite nervous. The first local target is $0.055. Having established itself above this range, buyers will have every chance to continue the movement with the next goal $0.06 and with the final $0.087.

If you look at the DOGEBTC chart, it becomes clear that a new momentum of growth is about to begin:

However, it should be remembered how many times this moment has grown. In the event of a failed fixation of the BTCUSD price above the range of $48000-48400, the global correction of the entire crypto market may continue. In this case, if the DOGEBTC market loses 95-100, we will see a new small collapse. At the moment, this is an alternative scenario.
______________________
We create both short-term ideas (for a local understanding of the market situation) and medium-term forecasts of price movements.
Subscribe to us and get daily concise analytics!