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Cryptocurrency
by Seth Parker on August 31, 2018

Dogecoin Analysis – To the moon!

Last day of September starts with the analysis of the Dogecoin, which was previously mentioned on this portal on the 26th of June. Back in that day, the price was around 0.0024 USD and was locked inside of a channel down formation. Our outlook for the forthcoming weeks was negative:

„Currently, we do have an upswing but the price should not break the upper line of the channel down. The long-term sentiment is negative and in the next few weeks, we should see Doge on the new lows. „

dogecoin chart

The price continued the down trend till the 14th of August. That was the day, when the DOGE touched the bottom on the 0.002 and then went higher creating a hammer candlestick on the daily chart. That was a start of a great rise! Since that, the price is aiming higher. Real fireworks happened yesterday, when the price made a huge upswing breaking the long-term down trendline. Together with the defence of the green support, it is a strong buy signal. Today, is not much worse. At the beginning of the European session, DOGE is 15% higher than yesterday. Current target is the orange resistance on the 0.004. Chances that we will get there are pretty high. Sentiment on the DOGE is positive.

By Seth Parker

Seth is a professional trader with over 10 years of experience. He specializes in the technical analysis. His main focus is on the pure Price Action. In his trading, Seth used the trends, supports and resistances and technical formations. Always, the most important thing in his strategy is the money management. Seth reached a proficiency in trading and for the past three years is doing that for a living enjoying the sun and lovely beaches of the Spanish coast.

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