DOGECOIN – ALTCOIN CHART ANALYSIS

Dogecoin has been moving very little lately and is overall in a sideways or consolidation phase. We are currently trading at around USD 0.068.

However, on the 4H chart, we have broken a strong resistance, namely the 200-SMA (last 200 moving averages/purple). So far, this has always pushed us down.

Now we were able to confirm this as support, at least for a short time. From here, however, we need significantly increasing trading volume and a pump so that we can maintain it in the long term.

On the daily chart, we can also see why pumping from the 200 SMA is so important. We are currently forming an ascending triangle (bullish) there. The 200 SMA is right on our uptrend.

For a breakout, we need to break through the $0.8 area and thus switch our former resistance zone to support. The technical price target would be around $0.10.

We would then have a higher high and thus also a trend change from bearish to bullish.

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