Dogecoin Weekly | Long-Term Analysis (Mid-Term Target 444%)

28 de nov. de 2022

We looked at Dogecoin vs Tether on the daily and 4h timeframes, but what about the long-term?

Here is the weekly chart for the DOGEUSDT pair.

First, we notice that May 2021 All-Time High and massive bullrun/bull market.
One Dogecoin was selling for $0.74 (74 cents).

After the bullish wave comes a bearish wave, the market moves in cycles and the low was set on 13-June 2022 at $0.04914, a massive 93.36% correction; that's how cryptocurrency goes.

After this low, we had a little over 4 months of consolidation, 133 days, and then a bullish breakout took place.

This bullish breakout happened to break above EMA10 weekly.
So Dogecoin moved from bearish to bull.

It only latest two weeks, prices moved above EMA50 and EMA100, over 185% growth and then a strong rejection took place.

After a bullish breakout, it is normal to see the previous conquered level tested as support.

So in late October Dogecoin moved back down to test EMA10 as support and so far it holds.

Now, what we saw last month is just the beginning for this pair and marks the bear market low...

In the next cycle, the bull market, Dogecoin can grow massively; Mid-term, long-term... The next All-Time High will be off this chart.

Patience is key.
Everything will look so much better in a matter of weeks.

Namaste.