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DOGE/USDT Potential Upward Movement

DOGE/USDT Long-Term Trend: Bullish

Key Resistance Levels: 0.6132, 0.7341, 0.7400

Key Support Levels: 0.5172, 0.4176, 0.3507

Daily Chart:

The price on the daily time frame managed to break the wedge formation to the upside. The price succeeded as well to break the daily resistance around the 0.5172 USDT mark. The previous resistance became support where we expect the price to rally from this level.

DOGE/USDT Medium-Term Trend: Bullish

1-hour Chart:

On the 1-hour time frame the price is showing low volume above the 0.5172 USDT level which indicates that the market it prepares itself for a huge movement. A correction might be seen to the daily support before the rally in the same direction of the main trend.

Signal Idea:

Buy Market Order @ 0.5272

TP 1 @ 0.6113

TP 2 @ 0.7341

Stop Loss @ 0.4857

Trade Safely 🙂

About Joe Damien

Joe is a proven Forex analyst and manual trader with 6 years of full-time trading experience. He is a swing trader that relies on price action, market structure and Fibonacci retracement. His two most successful pairs are CHF/JPY, CAD/JPY, but his expertise allows him to profit on any asset or pair.

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