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๐Ÿ“ˆ Daily TA: Dogecoin (DOGE/USD) | 19-11-2021

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cryptospa
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Hodl, dear members of LeoFinance!

Let me comment on the price chart of Dogecoin.

In the daily chart (1D), DOGE/USD is starting to test the trend line: So, this is a very critical moment for the price chart of the cryptocurrency.

Interestingly, in the 4-hour chart (4H), DOGE/USD has formed something similar to a Symmetrical Triangle: Theoretically, this type of triangle is a common trend continuation pattern. Keeping in mind, that before entering the triangle, there was an uptrend, we can assume that, sooner or later, the price will exit the triangle in the upward direction. However, this is not 100-% sure. That's why, for now, I will remain in wait-and-see mode.

To be continued ...

As of the time of writing, one DOGE costs $0,2336 on the Binance crypto exchange, according to TradingView.

A few words about me:

Just to let you know: I've been working professionally as a currency analyst for the last 15 years, and as a cryptocurrency analyst for the last 4 and a half years.

Important!

Keep in mind, that thoughts expressed here are my own, and they should not be regarded as recommendations for any cryptocurrency/commodity trades, investments and etc.

Check @crypto-guides to learn about the essentials of the major cryptocurrencies.

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