🔥 DOGE: Will The Trend Hold?

A couple of days ago I made an analysis on DOGE where I wrote that I expected some consolidation to occur in the near term. DOGE shot up higher and trader between the 0.11 and 0.12 for two days, so in the end we got some very minor consolidation.

After a massive bounce from the bullish dotted support line DOGE has surged another 30%. However, the bullish move seems to fade away whilst the stock markets are dumping.

If we lose the support, I'm looking for a move towards the 0.115 area. Not bearish on DOGE at all, just looking for a better entry in the near-term. I'm confident that Musk will continue to tweet about DOGE, so there's definitely a bullish bias.

Kommentar:

Be aware that the daily RSI is severely overbought. There's still more upside, but we will likely reverse sharply within the next week or so.