Today, let's attempt to analyze a coin from Decentralized Exchange (DEX). Whenever the trend of decentralized exchanges initiates in the market, it's hoped that the Dodo coin will yield a good return. Currently, it's running on a few Ethereum and Binance Smart Chain pairs.
Let's start by opening the monthly chart. What we observe from the chart is that it has been in a bullish trend for several months. There was once an SFP (Swing Failure Pattern) created at $0.35. When this month's candle closes, we'll be able to ascertain if there's a deviation.
On the weekly chart, it's seen creating regular SFP and the price is moving upwards. From here, I expect price movements up to $0.43, $0.62, $1.30, $1.70, and possibly $2.18 in the future.
On the daily chart, it's currently trading at $0.23. It might take a slight upward movement to initiate a healthy correction. Entry can be made for short-term profits, but for long-term, we should wait for the correction.
For the usual entry, I've opened the four-hour chart. Here, it's seen that regular trading is happening below the 0.5 level. If it breaks below $0.24 and gives an MSS (Market Structural Shift), it could touch $0.25 and potentially go up to $0.27. Then, with a correction, the entry point could come down to $0.18. Set the Stop Loss (SL) at $0.146.