Dogecoin: Breaks Descending Channel on 4H Chart
Trader Tardigrade notes Dogecoin has broken out of its descending channel on the 4-hour timeframe and formed a higher high and higher low structure as short-term momentum improves.
SourceAnalysis
Dogecoin has broken out of the descending channel on the 4-hour chart, according to @TATrader_Alan. The move produced a higher high and higher low market structure with improving short-term momentum.
Price sits at $0.09 inside the Bollinger Bands, pressing the upper resistance at $0.09 while the lower support rests at $0.08. Both EMA50 and EMA200 align at $0.09, locking in the longer-term bearish structure, yet the MACD has printed a golden cross at -0.0 and RSI at 43.37 holds neutral. This confluence leaves room for a test of the $0.08 band support before any sustained advance.
Trader Tardigrade
@TATrader_AlanTechnical chartist and crypto content creator focused on Bitcoin and altcoin pattern analysis.