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DOGE/USDT (Spot) Potential Upward Movement

DOGE/USDT (Spot) Long-Term Trend: Bullish

Key Resistance Levels: 0.2536, 0.2678, 0.2700.

Key Support Levels: 0.2362, 0.2280, 0.2209.

Daily Chart:

The price on the higher time frame found support around the 0.2365 USDT mark where huge wicks are left to the downside along with an engulfing bullish pattern and a 50% Fibonacci retracement level. The market has moved higher and we expect further movement to the upside toward the next key resistance level.

DOGE/USDT (Spot) Medium-Term Trend: Bullish

4-Hour Chart:

On the lower time frame, the coin succeeded to break the descending channel formation to the upside after posting a double bottom near the support level. A lower correction could be seen to the bespoke support level before a new impulsive wave toward the target profit.

Signal Idea:

Buy Limit Order @ 0.2374

TP 1 @ 0.2536

TP 2 @ 0.2678

Stop Loss @ 0.2305

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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