DOGE - THIS Altcoin can +800% 📈

10 בינו׳

📉Hi Traders, Investors and Speculators of Charts📈

Dogecoin is the original meme coin, famously started as a joke in 2013. Nevertheless, thanks to a dedicated community and creative memes, it has rapidly evolved into a prominent cryptocurrency.

From a chart-analysis perspective, DOGE has big upside potential, and from a fundamental perspective - things are looking good for this altcoin in 2024. Elon Musk has finally announced a peer-to-peer payment system on X (formerly Twitter) and have also stated multiple times in the past that he plans to include DOGE as a payment option.

From a macro perspective, I am bullish on DOGE. But for the SHORT term, DOGE is bearish. The price needs to establish support before going higher, and the downwards trend means that support hasn't been found at the current levels.


The short-term bearish sentiment is confirmed by the technical indicator CryptoCheck START V3.5, flashing a "sell" signal :


We would need to start seeing daily candle closes ABOVE the green 50d Moving Averages before considering more upwards price action:



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CryptoCheck

DOGE

10 בינו׳

הערה

It's important to note that I'm not saying DOGE will increase 800% in one candle. That is just the upside potential back to the previous high. It may take multiple weekly candles to get there, and there are always pullbacks during a bullish cycle so factor in a reasonable timeframe.

10 בינו׳

הערה

Check out this post for other altcoins with good upside potential for 2024:📢

11 בינו׳

הערה

Strong recovery pattern in the 4h, upside for the short term seems most likely:

11 בינו׳

הערה

Doge flashing a "buy" in the weekly timeframe: