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. „

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.