Cryptocurrency Analysis

[IFX_Selena]

Trading plan for Dogecoin for July 14, 2021



Technical outlook:
Dogecoin seem to be preparing to produce a rally towards at least $0.44 levels, before the crypto could meet some resistance. Bottom line remains that prices must stay above $0.15 lows, to keep bullish structure intact. Also note that Dogecoin bulls have found interim support around the previous lows around $0.17 levels as marked on the daily chart.

Dogecoin is seen to be trading around $0.19 levels at this point in writing and is expected to turn bullish from here pushing higher towards $0.44 levels going forward. Immediate resistance is also seen towards $0.44 mark, while support comes in around $0.15 levels respectively. A break above $0.44 will confirm that bulls are back in control over the short term.

Dogecoin has been retracing its recent upswing between $0.15 and $0.28 levels respectively. The drop has been corrective until now and might have reached fibonacci 0.618 retracement around $0.19 levels (not shown on the chart here). If a bullish bounce appears here, we can see prices rallying past $0.44 levels in the near term.


Trading plan:
Remain long for now, stop @ 0.14, target @ 0.44

Good luck!




Oscar Ton
Analytical expert
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