Dogecoin Technical analysis
Hello everyone welcome back to another update
Hello Guys I'm going to be paying attention to see how the exponential moving averages act as resistance if they continue to act as resistance as they continue to push lower and we do end up breaking this midterm support level here at 0.148$ that is going to be the confirmation that doge is ready to of course break back down into the 0.124$ and you already know that level has already been tested twice on the third test we tend to see a breakdown formation so the main target would, of course, be around 0.11$ now everything is dependent of course on this midterm support level so before again you jump ahead in the comments and say oh my God Doom and Gloom you have to understand the fact that right now Doge has failed to hold above 0.168$ we had a breakout Candlestick and immediately rejected on that news and then you can see we ended up using the exponential moving averages as resistance with Bitcoin and Ethereum ...
The daily time frame we have finally hit our 20 exponential moving average is something that I probably talked about for a week-long The fact that we have not tested this Zone I would be very careful but now that we have seen a test confirmation what I need to see of course is the fact that we have to hold this level as support the Bulls can somehow manage to break back above 0.168 and use that level as support then not only do we have that support retest happening but we also have the confirmation of the 20 EMA that has been used
The 4-hour time frame right now you can see that we are seeing quite a bit of struggle, of course, we are on weekend volume so I'm not expecting too much liquidity here but ideally right now the Bulls need to have to break back above that level for any sort of continuation but again with the more retest opportunities we are seeing on these exponential moving averages and now 0.168 has flipped to resistance this is not something you want to see from a bullish case but that's pretty much
see you in another update Please Don't forget to upvote, resteem, and comment...
