DOGE: Resistance Smashed — Re-Test And Take-Off

Jul 21

Just three days ago, we discussed the scenario of DOGE facing three major resistances: the EMA200, a major downtrend line, and the level of ~0.127.

After DOGE tested the resistances on Friday, they easily pumped through yesterday. Currently, it looks like DOGE is retesting this crucial level.

We are good to go if the level holds and DOGE flips it into support. Accordingly, I will enter a long trade once the price reverses or bounces at 0.127. The first profit target is 0.165, with a potential of ~25%. Stop loss should be good, slightly below 0.127.