Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Meme Coins => Dogecoin Forum => Topic started by: Trumpet on June 14, 2021, 07:52:23 AM
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Dogecoin’s (DOGE) rebound off the neckline of the head and shoulders pattern turned down from the 20-day EMA ($0.34) on June 10, suggesting that bears are selling on every minor relief rally.
DOGE/USDT daily chart. Source: TradingView
If bears sink the price below the neckline, it will complete the bearish head and shoulders pattern that could result in a drop to $0.21. The bulls are likely to defend this support aggressively.
If the price rebounds strongly off this level, the DOGE/USDT could retest the neckline. If the price turns down from this resistance, the possibility of a break below $0.21 increases. That could result in a drop to $0.10.
This negative view will invalidate if the price rebounds off the current level and rises above the moving averages. That could open the gates for a rally to $0.47.source (https://cointelegraph.com/news/price-analysis-6-11-btc-eth-bnb-ada-doge-xrp-dot-uni-ltc-bch)