Dogecoin is currently standing at a major support zone of 50-60 cents. It has consistently held this support zone since April '21.
Nevertheless, I'm beginning to perceive a weakening in its stance, given its recent breach of the point of control (the price level at which most trading activity has taken place), marked by the white horizontal line. Furthermore, a trend of declining troughs has emerged since the peak in May '21.
From my perspective, unless we witness a rebound from these lows in the upcoming months, there's a possibility that we could experience a more pronounced decline in the price.
What do you folks think about this chart, let me know in the comments below
#dogecoin #cryptocurrency #trading
Nevertheless, I'm beginning to perceive a weakening in its stance, given its recent breach of the point of control (the price level at which most trading activity has taken place), marked by the white horizontal line. Furthermore, a trend of declining troughs has emerged since the peak in May '21.
From my perspective, unless we witness a rebound from these lows in the upcoming months, there's a possibility that we could experience a more pronounced decline in the price.
What do you folks think about this chart, let me know in the comments below
#dogecoin #cryptocurrency #trading