altFINS

DOGE: Descending Triangle Breakout

Long
BINANCE:DOGEUSDT   Dogecoin / TetherUS
DogeCoin (DOGE) technical analysis:

Trade setup: Bullish breakout from Descending Triangle pattern. Price is retesting that breakout level now and if successful, it could swing up to $0.07, which is also a 200-day moving average and thus stiff resistance.

Trend: Downtrend across all time horizons (Short- Medium- and Long-Term).

Momentum is Mixed as MACD Line is above MACD Signal Line (Bullish) but RSI < 45 (Bearish). MACD Histogram bars are declining, which suggests that momentum is weakening.

Support and Resistance: Nearest Support Zone is $0.060, then $0.053. The nearest Resistance Zone is $0.070 then $0.100.

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