DOGE/USDT Chart Analysis and Trade Setup.
2024-12-24
Category: None

DOGE/USDT has broken out of the symmetrical triangle pattern, indicating a potential bullish continuation.

The breakout is accompanied by continued price action above the key moving averages, reinforcing the bullish setup.

DOGE trades above the 50-EMA and 200-EMA, which converge and may act as dynamic support, reinforcing the upside momentum.

Trade Strategy:
Entry Zone: Around $0.31633 after confirmation of the breakout.
Stop Loss: Below $0.30699 for a failed breakout.

Take Profit Level:
Primary Target (TP): $0.37545 (highlighted resistance area)

The breakout from the symmetrical triangle indicates bullish potential. The trade setup offers a favorable R: R ratio and significant profit potential as long as the price stays above the breakout level and the stop-loss is respected.

#DOGE #CryptoTrading #TradeSetup

DYOR, NFA

@Peter_CSAdmin
